Trump’s tariff war looms, Macron and Draghi warn Europe – POLITICO

While Macron warned that the Trump administration “will continue to protect (its interests) at the risk of tearing apart the value chains between Europeans and Americans,” he called on Brussels to take action with a more aggressive trade policy, based on recent examples. EU tariffs on China’s electric vehicles.

“Trump’s election is a moment of acceleration. “The longer we wait, the more impossible dilemmas we will face,” he warned.

Speaking at the long-established college founded by King Francis I in 1530, the French-Italian duo jumped at the opportunity to showcase their friendship, with Macron publicly celebrating Draghi’s leadership and the pair delivering carefully aligned messages on what Europe should do.

Both particularly criticized the EU’s current economic doctrine, saying leaders must find and create the courage to invest more in strategic sectors. a true capital markets union Financing disruptive technologies.

While criticizing US protectionism, the duo repeatedly compared Europe to the US and called on Brussels to take inspiration from Washington, especially in directing private capital into strategic sectors. Europe should catch up with the United States by increasing financing for innovative companies through capital markets rather than bank loans, they said.

As Draghi noted, “Banks are not good at financing innovation.”

Deploring the bureaucracy of the EU, previously It earned him praise from US billionaire Elon MuskDraghi said Brussels should “get rid of useless regulations” that are forcing companies, especially in the technology sector, to leave Europe.