EU must seek new trade deals if U.S. looks inward: Eurogroup president
Reuters
Published Jan 31, 2017 10:27AM ET
EU must seek new trade deals if U.S. looks inward: Eurogroup president
AMSTERDAM (Reuters) - The European Union will have to establish new trading partnerships if its traditional economic and political ally the United States heads down a path of protectionism, Eurogroup President Jeroen Dijsselbloem said on Tuesday.
"We don't yet know if that is going to happen," Dijsselbloem told the RTL broadcaster. "Europe must not sit back and blindly wait for what happens in the United States, but move ahead itself, also in the area of trade."
Dijsselbloem's comments came amid a backlash in the European Union and beyond to U.S. President Donald Trump's early policy moves, including withdrawing from the 12-nation Trans-Pacific Partnership (TPP) trade pact.
He said that while the United States remained a key trade partner it would be sensible for the EU to finalize trade deals being negotiated with Asia, Latin America and Africa.
"Our cooperation with China. ..is very important. Economically, increasingly important, but also politically," he said.
"If the U.S really opts for a more protectionist, inward-looking approach ... (and) is no longer a supporter of trade and cooperation, Europe will have to take on that role with determination."
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.