This is an ICYMI on German Chancellor Angela Merkel speaking in the German parliament on Wednesday
- She said a trade war between the US and the rest of the world may lead to a global financial crisis
- US tariffs on cars from Europe would prove "much more serious" than the duties imposed on steel and aluminium
Merkel stressed the need for cooperation:
- "The international financial crisis, which ensured that we now act in the framework of the G-20, would never have been resolved so quickly, despite the pain, if we hadn't cooperated in a multilateral fashion in the spirit of comradeship"
- "This has to happen."
I wonder if international cooperation comes at the cost of US exclusion …. here is another ICYMI on China and Europe. Reuters had this a day or so ago:
- China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump's trade policies at a summit later this month
Might leave the US all alone …
