Alexander Firanchuk: “Countries join forces to oppose Trump's trade policy”
Alexander Firanchuk, Senior Researcher at the Gaidar Institute’s International Trade Department, in a commentary for TASS, expressed his opinion about the desire of China and the European Union to form more stable trade alliances amid the instability of the US sales market.
According to the expert, the strengthening of economic cooperation between the countries is a natural reaction to the instability caused by the activities of the US administration.
«Reports are emerging that China and the EU have already started preliminary talks on reducing European tariffs on Chinese electric cars. Most likely, the trade concessions will be reciprocal. This means that both China and the EU, realizing the unpredictability and instability of the American sales market, are trying to facilitate their access to alternative markets by liberalizing mutual trade," the expert said.
In his opinion, such a strategy is especially favorable for China because «one of the main goals of the US President Donald Trump’s policy is to try to isolate China economically." «Beijing responds to this by expanding integration with other major economies of the world," Alexander Firanchuk pointed out.
«Another example is Switzerland’s desire to deepen its already quite close trade and economic relations with the EU, which is expressed, in particular, in the planned participation of Swiss officials in informal meetings of the EU financial authorities. All this suggests that strengthening economic cooperation between the countries is a natural and logical response to the instability caused by the actions of the US administration," the expert concluded.
Sunday, 13.04.2025