12:40 - 14.11.2024

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 November 14, Fineko/abc.az. Emmanuel Macron warned that Europe risks being divided by Trump's economic policies and at the same time being drawn into a trade war with Washington and Beijing, ABC.AZ reports, referring to Bloomberg.

The next U.S. administration "will continue to defend the market very strongly, risking destroying the value chains between Europeans and Americans", the French president said on Wednesday, speaking at a meeting on European competitiveness. "We are clearly entering a world of tariff wars."

Trump has put forward the idea of imposing tariffs ranging from 10% to 20% on all goods coming from abroad, which could hit export-dependent industries and European countries such as the automotive and chemical industries. The list of claims of transatlantic countries includes "green" subsidies proposed by the Biden administration, duties on steel and aluminum, as well as the protracted dispute between Boeing and Airbus.

All this will take place against the backdrop of trade tensions between Europe and China, exacerbated by the anti-subsidy investigation that the EU has launched at the insistence of France regarding Chinese-made electric vehicles. China retaliated with tariffs on European brandies, which particularly affected French cognac.