EU Leaders Keen to Be the Beacon of Free Trade

European Union leaders sent a clear signal that the 28-nation bloc will promote free trade, in a show of opposition to the protectionist stance floated by the new U.S. administration.

Faced with President Donald Trump’s “America first” economic policy and a resurgent anti-globalization tilt in their own backyards, EU chiefs gathering on Thursday in Brussels used their last full meeting before Dutch and French elections to express their commitment to open commerce, pointing specifically to deals with Asian nations.

“Europe remains the champion of open, rules-based trade. Not least due to signs of protectionism emerging elsewhere,” said European Council President Donald Tusk, who was re-elected to his position at the meeting. “Trade is central to our economic success and so we will swiftly advance ongoing negotiations, such as with Japan.”

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.