EU Indicates Readiness to Engage with U.S. Despite Worries About Trade Disputes
Leaders of the European Union are open to negotiating with President Donald Trump, but they caution against detrimental trade disputes and a downward global economic competition.
The European Union has shown willingness to work with U.S. President Donald Trump's administration, highlighting the need to avoid a trade conflict that could damage both their economies and the global market.
At the World Economic Forum in Davos, European Commission President Ursula von der Leyen pointed out the increasing intensity of global competition over the past 25 years, noting the growing use of tariffs, sanctions, and export controls as significant changes in trade practices.
Without directly mentioning Trump, she stressed the importance of cooperation to prevent a 'race to the bottom' in international trade, calling for an update of global trade rules to sustain mutual benefits.
In the early days of his presidency, Trump signaled his intention to address the U.S. trade deficit with Europe, considering potential tariffs and increased energy exports.
Trump has also directed U.S. federal agencies to examine ongoing trade imbalances and investigate supposed unfair trade practices by other nations, including alleged currency manipulation.
With its substantial trade surplus with the U.S., Germany could be among the countries targeted for action.
Amid the uncertainty, German Chancellor Olaf Scholz voiced cautious optimism after initial talks with Trump's team, reaffirming the U.S. as Germany's closest ally outside Europe.
He highlighted the importance of maintaining robust relations with the U.S.
Von der Leyen also discussed Europe's need for increased competitiveness and closer market integration, along with building stronger ties with other global powers.
Her upcoming visit to India reflects the EU’s aim to strengthen its strategic partnership with the nation.
She also reiterated support for the Paris Climate Agreement, confirming the EU’s dedication to fighting climate change, despite the U.S. withdrawal under Trump.
The EU has stressed its commitment to practical engagement with the U.S., while protecting its own values and interests.
The EU-U.S. trade volume, reaching 1.5 trillion euros, represents 30% of global trade, highlighting the significance of this transatlantic relationship.
At the World Economic Forum in Davos, European Commission President Ursula von der Leyen pointed out the increasing intensity of global competition over the past 25 years, noting the growing use of tariffs, sanctions, and export controls as significant changes in trade practices.
Without directly mentioning Trump, she stressed the importance of cooperation to prevent a 'race to the bottom' in international trade, calling for an update of global trade rules to sustain mutual benefits.
In the early days of his presidency, Trump signaled his intention to address the U.S. trade deficit with Europe, considering potential tariffs and increased energy exports.
Trump has also directed U.S. federal agencies to examine ongoing trade imbalances and investigate supposed unfair trade practices by other nations, including alleged currency manipulation.
With its substantial trade surplus with the U.S., Germany could be among the countries targeted for action.
Amid the uncertainty, German Chancellor Olaf Scholz voiced cautious optimism after initial talks with Trump's team, reaffirming the U.S. as Germany's closest ally outside Europe.
He highlighted the importance of maintaining robust relations with the U.S.
Von der Leyen also discussed Europe's need for increased competitiveness and closer market integration, along with building stronger ties with other global powers.
Her upcoming visit to India reflects the EU’s aim to strengthen its strategic partnership with the nation.
She also reiterated support for the Paris Climate Agreement, confirming the EU’s dedication to fighting climate change, despite the U.S. withdrawal under Trump.
The EU has stressed its commitment to practical engagement with the U.S., while protecting its own values and interests.
The EU-U.S. trade volume, reaching 1.5 trillion euros, represents 30% of global trade, highlighting the significance of this transatlantic relationship.
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