France’s Macron promises a ‘more massive’ response from Europe

• All instruments are on the table to respond
• Perceived trade imbalances do not take into account digital services
• Indirect consequences of tariffs may lead other countries in Asia to boost exports to Europe
• The US economy and consumers will become poorer and weaker
• We will react in organised and unified manner
• Response to Wednesday’s announcement of US tariffs will be more massive than previous response
• If Europeans work together in their response to US tariffs, we will succeed in dismantling US tariffs
• Europe must react to tariffs industry by industry
  US diagnosis is correct but tariffs are wrong answer, Western economies need to be more productive
• Decarbonisation of economy will contribute to reducing Europe trade deficit

The goal here appears to be ‘dismantling’ tariffs but I’m not sure that’s a possibility anymore.

This article was written by Adam Button at www.forexlive.com.