EU's Juncker in last-ditch bid to end Trump trade war

Juncker, a grizzled veteran of EU politics, follows a long list of European leaders, including German Chancellor Angela Merkel, who have tried to lure Trump him away from a protectionist onslaught that has spooked financial markets and the world.

EU's Juncker in last-ditch bid to end Trump trade war

World Bulletin / News Desk

European Commission head Jean-Claude Juncker heads to Washington on Wednesday in a last-ditch effort by Europe to cool nerves and find an exit door from an all-out trade war with US President Donald Trump.

Juncker, a grizzled veteran of EU politics, follows a long list of European leaders, including German Chancellor Angela Merkel, who have tried to lure Trump him away from a protectionist onslaught that has spooked financial markets and the world.

The former Luxembourg prime minister is going to Washington without a negotiating mandate, but with the intention of thinking "outside the box" to "find a solution" with Trump, said EU trade commissioner Cecilia Malmstrom, who will join Juncker on the trip.

At stake is a White House threat to slap a daunting wave of tariffs on European auto exports to the US, an action that the Europeans say would trigger a global economic earthquake and earn a withering riposte from Brussels.

If confirmed, Trump's auto tariffs would add to the steel and aluminium tariffs imposed in June that seriously damaged transatlantic relations already frayed by Trump's pullout of the Paris Climate accord and the Iran nuclear deal.

In response, the European Union on June 22 imposed a raft of retaliatory tariffs that targeted the most emblematic of American exports, from blue jeans to Harley Davidson motorbikes and whiskey.

Fearing car tariffs, Brussels is already drawing up a list of more US products that could be hit with retaliatory duties if Juncker's trip fails.

"We will continue to respond toe-to-toe to provocations," Juncker warned in a speech on Wednesday.

"All efforts to divide Europeans are in vain," he added.

 

 

Last Mod: 23 Temmuz 2018, 13:06
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