Former US Ambassador to EU Says Trade War a Mistake

With the U.S. and China seemingly nearing the conclusion of a trade deal, many experts have predicted that Washington could next turn up tensions with the European Union.

Those worries came as the U.S. and some of its European allies recently clashed on issues such as Huawei’s role in 5G development — something the administration of President Donald Trump considered contentious.



But it would be a mistake if the Trump administration decided to impose additional tariffs on European products because of such differences, according to Anthony Gardner, who served as American ambassador to the EU from 2014 to 2017.

“That would be a mistake, if that is the position that Washington is going to take, that is a mistake. And the fundamental reason is that when you look at our common concerns — the U.S. and European concerns about China — we probably agree on 90 percent,” Gardner told CNBC’s Martin Soong on Tuesday at the Credit Suisse Global Supertrends Conference in Singapore.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza