The EU is facing pressures to abandon free trade in favor of protectionist mercantilist policies, similar to those employed by the USA under Trump and by China under Xi.
The article discusses the recent shift in the European Union's approach to trade, highlighting concerns that it is increasingly adopting mercantilist policies akin to those of the Trump administration and the Chinese government. With initiatives like 'Buy European' mandates and quotas for local products, the EU is moving away from its previous stance as a defender of free trade, a shift that many view as alarming given last year's commitment to global trade principles.
The piece criticizes European leaders for resorting to protectionist measures, such as imposing tariffs on Chinese electric vehicles and limiting foreign investment in strategic industries, suggesting that these actions betray the EU's foundational principles of openness and competition. Financial Minister Lars' involvement in this approach underscores the pressure politicians face to align with a more protectionist zeitgeist while compromising the EU's political identity.
The implications of this shift are significant as they could lead to further isolationism among member states and a fracturing of the EU's unified trade policies. The article calls for European leaders to resist the temptations of protectionism and to remain committed to the principles of free trade that have historically benefited the region.
