Apr 06, 2018 12:50 PM

Opinion: Cooler Heads Will Prevail in U.S.-China Trade Squabble

I am optimistic that the current scuffle between the U.S. and China over tariffs will eventually be resolved before it becomes a full-blown trade war that spills over into the global economy, forcing, for example, the European Union to choose a side.

Just last month the EU appeared to win a round against U.S. President Donald Trump who threatened them with tariffs on American aluminium and steel. The EU countered with threats of its own: tariffs on Levi jeans, Harley Davidson motorbikes and bourbon. In the end, it was the U.S. that blinked. The EU was excluded from the list of countries slapped with tariffs on those metals. The EU’s stance against protectionism and accompanying efforts to hammer out deals with individual member states is well documented. Understandable, as these are very clear threats to an already fragile union.

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