Guest post by Drieu Godefridi Faced with the American “tariffs,” Europe has two options. The first is to export less. This is the retaliation strategy. Responding to US tariffs with new European tariffs. This strategy will automatically lead to a drop in imports from the United States, and a drop in exports to the United States. So everyone loses, starting with European consumers. Well, all losers, but especially Europeans. Europe exports more to the USA than the other way round. Europe, therefore, has more to lose from a tariff war with the USA than vice versa. And let’s be careful. On four fronts – economic, financial, budgetary and military – Europe is in a position of weakness the likes of which it has not experienced…
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