EU Unwilling to Enter Into a Trade War With the US, Calls for Cooperation on Issues - Forex News by FX Leaders
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EU Unwilling to Enter Into a Trade War With the US, Calls for Cooperation on Issues

Posted Tuesday, July 23, 2019 by
Arslan Butt • 1 min read

Things are heating up once again on the trade front between the EU and the US. On Monday, an EU official stated that the Union is willing to cooperate with the US on reforms to the WTO and to tackle common global trade challenges. However, if the US government raises tariffs on its cars, it will have to retaliate.

These statements were made by the Director General of Trade at European Commission, Sabine Weyand, during her first official visit to Washington. She also added that the EU is keen on avoiding a tariff war with the US and would be more keen to cooperate with the US on addressing mutual concerns surrounding China’s dominance in world trade.

However, threats of sanctions would not bode well as the EU considers them to be illegal under WTO rules. The EU is willing to work with the US on issues of managed trade instead of resorting to escalating trade conflicts, as the US and China have been doing for the past year.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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