Emmanuel Macron has hit back at Donald Trump’s latest threats to impose tariffs on any country opposing his Greenland takeover, warning that “no amount of intimidation” will persuade European nations to change their course on Greenland.
He was echoed by the Swedish prime minister, Ulf Kristersson, who warned the EU would not be “blackmailed” by the US president, who on Saturday announced 10% tariffs on eight European countries from 1 February, with a further 25% tariff from 1 June.
In a joint statement, EU leaders said “tariffs would undermine transatlantic relations and risk a dangerous downward spiral”.
It is highly likely that the European parliament will halt ratification of last summer’s trade deal with the US after Manfred Weber, the head of the European People’s party, the largest voting bloc in the institute, said they would have to pause the legal rubber stamping process.
UK has lost about 7.5-10% of their economic potential due to Brexit. Incidentally exactly as I warned would happen during the campaign for the Brexit election, where I warned the UK economy could decline up to 1% per year compared to remaining. Turns out I was pretty much spot on. My guess is this has hit the lower paid workers harder than average, because that is generally the nature of such things, unless there is political will to prevent it. But in situations with tighter economy, such political will almost always evaporates.
For UK workers overall this is a self inflicted wound. But of course if you voted remain, this was inflicted upon you by your countrymen. UK is in a special situation, and can not be used as an example for the rest of Europe.
Hopefully we will see this effect decrease, as UK forms new agreements with EU, and the economy settles on a natural level for the new conditions.