Authored by Victor Davis Hanson via The Daily Signal,
I’d like to talk today about the role of China, the United States, and the European Union, or just Europe in general, in the context of these tariffs and the so-called trade wars.
Right now, President Donald Trump has given a 90-day reprieve from high tariffs. I think that 10% tariffs are still in existence. And they are negotiating with a number of European countries and particularly, Asian dynamic economies, such as South Korea, Taiwan, and Japan. In addition to that, they are targeting China with tit-for-tat tariffs. And we are maybe on the brink—nobody wants it, but we might be on the brink of a trade war, which we’ve addressed in earlier videos.
But here’s my point.
What is the attitude of Europe?
Roughly, China has a $1 trillion deficit with the world. We have about a $1 trillion deficit in trade with the world. But here’s the ratios. About a third of our deficit is with China, which makes up a third of their surplus. In addition to that, Europe makes up about a third of their surplus.
So, China has called on Europe to join forces with it to prevent all of the retaliatory tariffs that the United States has…
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