The EU appears to be succumbing to mercantilism, emulating the policies of the U.S. and China, and the German government is urged to prevent this shift.
The article discusses how the European Union (EU) is increasingly adopting mercantilist policies reminiscent of those implemented by the U.S. under President Donald Trump. It highlights that since Trump's introduction of protectionist tariffs, European politicians have begun to embrace similar measures, including 'Buy European' requirements and foreign investment limits. This trend poses a significant shift from the EU's previous commitment to free trade and the global trading order.
The author argues that this movement towards mercantilism reflects a broader global sentiment against free trade, influenced by the perceived success of trade protectionism in the U.S. and China. The article cautions that the EU's drift towards such policy frameworks could undermine its long-standing advocacy for free trade principles. It warns that if Brussels and national capitals continue to implement restrictive trade measures, they may inadvertently erode the EU's economic position and its role in international trade.
In conclusion, the piece calls on the German government and EU leaders to uphold their commitment to free trade and resist the allure of mercantilism. The implications of adopting the mercantilist approach could not only affect economic relations within the EU but could also spark trade tensions globally, making it imperative for European leaders to remain steadfast in their dedication to free market policies.
