Miscellaneous

France warns of trade war between US, EU

French Finance Minister Bruno Le Maire warned Sunday against a trade war between the US and the European Union (EU) if Washington imposed further duties on European imports.

The US should expect strong and united response from Europe if it increases custom tariffs on European imports, Le Maire told an economic conference in Aix-en-Provence, southwestern France.

He said the US wanted to “divide France and Germany” on the international trade issue, urging Europe to unite in this “trade war.

“If duties are imposed on economic sectors like automobile sector, our reaction should be strong and united so they will acknowledge that Europe too is an economic sovereign power,” he said.

The US imposed further duties on Chinese goods amounted to 34 billion euros (USD 40 billion), prompting Beijing to retaliate with similar counter measures.

US President Donald Trump had threatened to impose 20 percent of duties on European cars.

Source: Kuwait News Agency