- US Tariffs on European Exports ‘Illegal and a Mistake’, Says Emmanuel Macron
by Agencies and staff, https://www.independent.co.uk/
‘Threats over trade war will solve nothing of the serious imbalances in world trade. Nothing’
Emmanuel Macron has denounced the imposition of US tariffs on steel and aluminium as a mistake and illegal. The French president said he would speak to Donald Trump later tonight following the US president’s announcement of large tariffs from midnight after talks aimed at staving them off collapsed.
The announcement of tariffs on steel and aluminium imports from Europe, Mexico and Canada also drew swift vows of retaliation from other allies, inflamed tensions and sent stock markets sinking.
“Unilateral responses and threats over trade war will solve nothing of the serious imbalances in world trade. Nothing,” Mr Macron said. In a clear reference to Mr Trump, he added: “These solutions might bring symbolic satisfaction in the short term… One can think about making voters happy by saying, ‘I have a victory, I’ll change the rules, you’ll see’.” But the French leader said those who waged “bilateral trade wars… saw an increase in prices and an increase in unemployment”.
Wilbur Ross, the US commerce secretary, announced the sanctions from Paris, where he had been negotiating with EU leaders who were trying to avert the tariffs by extending exemptions.