The former head of the World Trade Organization says China and the European Union should address their differences and form a united front against a “victory” Donald Trump, saying the next US president is a threat to global trade. He said there is.
The assessment by Pascal Lamy, who was director general of the Geneva-based multilateral trading organization from 2005 to 2013, comes amid growing concerns about the future of globalization after last week’s US presidential election. President Trump crippled the appellate body in his first term.
Lamy, who is also a professor emeritus at the China-Europe International Business School, said in an interview in Shanghai on Saturday that President Trump would create problems not only for China but also for the EU and many other US trading partners.
During his campaign, President Trump vowed to raise tariffs on Chinese goods to 60% to 100% and impose blanket tariffs of 10% to 20% on all other U.S. imports.
After launching a trade war with China in 2018, tariffs were imposed on about $300 billion worth of Chinese goods in an effort to curb the US’s snowballing deficit, triggering retaliatory measures from Beijing.
We should build a united front against American protectionism within the WTO Pascal Lamy, former World Trade Organization
“I would estimate that 80% of the non-U.S. trading powers on the planet will still be able to keep trade open among themselves and decide what to do with the U.S.,” Ramey said.
