Headlines on both sides of the Atlantic trumpet daily hysteria about Trump’s “trade war.” When President Trump imposed tariffs on European steel, here in Berlin the mainstream media reacted as if it were a declaration of all-out war. Trump’s open break with the other G7 leaders and talk of new tariffs on automobiles fueled the fire.European business, political and media elites are perplexed about how the U.S. president can demolish the “rules-based global trade system” that the United States and Europe jointly built over the last 50 years – a system that served them so well. | By Jürgen Maier
Poland is threatening to block a part of the EU’s trade deal with Canada because of its concerns over a planned mechanism for resolving disputes between governments and multinational companies.
Accounting for 23 percent of GDP worldwide, the United States has dominated the global economy for over 70 years. However, the US attitude towards trade policy has changed significantly since the new administration took office. President Donald Trump has removed the United States from the Trans-Pacific Partnership (TPP), slowed the progress of the Transatlantic Trade and Investment Partnership (TTIP), and called into question the benefits of the North American Free Trade Agreement (NAFTA).
With these notable changes in policies, the United States is no longer situated at the forefront of international trade, and in its absence the European Union has stepped in.
If you've been campaigning against TTIP and CETA get ready for JEFTA - the upcoming EU trade deal with Japan. But this time, there may be a twist as JEFT...