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Europe, not Donald Trump, holds the cards on trade

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29.06.2019

World trade is still possible even if the United States won't come to the table. The free trade deal struck between the European Union and the Mercosur bloc of four South American countries — Argentina, Brazil, Paraguay, and Uruguay — proved that Trump's modus operandi is wrong.

Read more: Global trade 2019: Fasten your seat belts!

While the rest of the world is banking on reducing trade barriers in order to open up markets, Trump is building walls of tariffs. At the two-day G20 summit in Osaka, the US president, who is committed to national unilateralism, did not show any willingness to renounce his punitive tariffs. In fact, they have become the favored tool of his sledgehammer approach to diplomacy.

It's an instrument that is still working because — for now — the US is economically strong and can still afford import tariffs, which are........

© Deutsche Welle