Headlines on both sides of the Atlantic trumpet daily hysteria about Trump’s “trade war.” When President Trump imposed tariffs on European steel, here in Berlin the mainstream media reacted as if it were a declaration of all-out war. Trump’s open break with the other G7 leaders and talk of new tariffs on automobiles fueled the fire.
European business, political and media elites are perplexed about how the U.S. president can demolish the “rules-based global trade system” that the United States and Europe jointly built over the last 50 years – a system that served them so well. […]
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