In December 2024, U.S. President-elect Donald Trump announced that the European Union must increase its imports of U.S. oil and gas or face tariffs on its exports, including cars and machinery. Throughout his election campaign, Trump threatened to impose tariffs ranging from 10 to 20 percent on all products from the U.S.’s trading partners, including the EU.
In the heart of Madrid, CGTN Stringer took to the streets to gauge local opinions on Trump’s threats. Many residents expressed apprehension about the potential impact on the European economy and international trade relations.
“It’s a mistake in a globalized world where goods and trade have a general flow,” said Pablo Martinez, a local resident who believes that a protectionist approach will not yield positive results. “Putting up barriers only hinders progress and mutual growth.”
Others shared similar sentiments, emphasizing the importance of cooperation over confrontation. “We should be building bridges, not walls,” commented Maria Lopez, a small business owner in Madrid. “Trade wars benefit no one.”
As the EU considers its response to Trump’s demands, uncertainties loom over the future of transatlantic trade relations. The potential imposition of tariffs could have ripple effects not only in Europe and the U.S. but also across global markets, including Asia.
Asian markets are closely watching the developments, given the interconnectedness of global trade. Any significant shifts in U.S.-EU trade dynamics could influence economic strategies and partnerships in the Asian region.
For now, Spanish residents and the broader European community await further developments, hoping for a resolution that favors collaboration and mutual benefit over protectionism.
Reference(s):
cgtn.com
