- Few Days Left to Avoid Full-Scale Trade War Between US and EU – France
Washington has just a few days to take some urgent measures if it wants to avoid unleashing a full-scale trade war with its European allies, France’s Finance Minister Bruno Le Maire has warned, during a G7 meeting.
“We still have a few days to take the necessary steps to avoid a trade war between the EU and the US, and to avoid a trade war among G7 members,” Le Maire told journalists, following a meeting of the G7 finance ministers in Canada’s mountain resort of Whistler, British Columbia. He added that it is up to the US to make the first move.
“The ball is in the camp of the United States, it is up to the American administration to take the right decisions to smooth the situation and to alleviate the difficulties,” he added, as cited by Reuters. Other top officials of the world’s leading economies joined the French minister in his call for urgent actions.
The summary statement of the ministerial meeting said that “collaborative partnerships to promote free, fair, predictable and mutually beneficial trade” should be restored. The ministers of the G7 countries also urged the US Treasury Secretary Steven Mnuchin to convey their “unanimous concern and disappointment” over the recent US decisions to impose tariffs on imports of metals from the EU as well as from Canada and Mexico.