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Some countries like Spain and Belgium run a trade deficit with the US and might be tempted to negotiate bilaterally to avoid a 20-percent tariff. Surplus countries like Germany and Ireland benefit from the overall EU position. But giving in to bilateral temptations would only weaken the EU (Photo: Author)

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From tariffs to turmoil? Trump's self-sabotage if EU stays united

The so-called 'Liberation Day' last week was effectively a US declaration of trade war on the rest of the world. In an attempt to address its trade deficit in goods, the Trump administration resorted to imposing broad tariff barriers on most countries, following an oversimplified logic lacking solid economic justification.

Ironica...

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Some countries like Spain and Belgium run a trade deficit with the US and might be tempted to negotiate bilaterally to avoid a 20-percent tariff. Surplus countries like Germany and Ireland benefit from the overall EU position. But giving in to bilateral temptations would only weaken the EU (Photo: Author)

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Author Bio

Judith Arnal is a Spanish economist with the Real Instituto Elcano think-tank and the Centre for European Policy Studies.

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