According to local media, including the Danish news outlet DR, the global economy is experiencing a period of escalating tension as a result of the trade war initiated by US President Donald Trump. In this context, the European Union has begun to shift its strategy and is considering joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as reported by Politico and cited by the Danish news site.
Von der Leyen: EU joining a trade agreement with Pacific Rim countries
رئيسة المفوضية الأوروبية أورسولا فون دير لاين Ursula von der Leyen، صرحت عقب قمة للاتحاد الأوروبي مساء الخميس بأن هذا الانضمام سيكون بمثابة إشارة قوية للعالم على إمكانية إقامة تجارة حرة واسعة النطاق تستند إلى قواعد واضحة. وأكدت: “هذا مشروع أعتقد أنه يجب أن نشارك فيه بجدية، لأن CPTPP والاتحاد الأوروبي يمثلان قوى كبرى”. وأشارت إلى أن مثل هذا التحالف يمكن أن يساهم في إصلاح منظمة التجارة العالمية أو حتى استبدالها.
It is worth noting that the United Kingdom has already joined the agreement, which includes 12 countries such as Canada, Mexico, Japan, and Australia. Meanwhile, Trump has set a July 9 deadline for concluding a new trade agreement with the European Union.
Mette Frederiksen: If Washington imposes tariffs, we must respond in kind.
في السياق نفسه، صرحت رئيسة الوزراء الدنماركية ميته فريدريكسن Mette Frederiksen، في قمة بروكسل، بأن الاتحاد الأوروبي يجب أن يكون جاهزًا للرد إذا رفعت الولايات المتحدة تعليق الرسوم الجمركية على السلع الأوروبية بداية يوليو. وقالت: “طبعي هو أنه إذا استمر الأمريكيون في فرض الرسوم، فعلينا الرد بالمثل”. وأضافت: “من الغريب أن نقوّض اقتصاداتنا في حين أننا، بالأمس فقط خلال قمة الناتو، اتفقنا على أننا نواجه تهديدات خطيرة من عدة جهات”.
On the German side, Chancellor Friedrich Merz, speaking to German broadcaster ARD from Canada where he is attending the G7 summit, stated that he expects a trade agreement with the United States to be reached before the end of the summer. He indicated that the agreement between Germany and the United States would be similar to the one already concluded between Washington and London during the summit.
لكن ليس جميع المفاوضات تسير بسلاسة. ففي اجتماع استمر 30 دقيقة على هامش قمة G7، فشل رئيس وزراء اليابان شيغيرو إيشيبا Shigeru Ishiba والرئيس ترامب في التوصل لاتفاق حول تخفيض الرسوم الجمركية. ووفقاً لوكالة رويترز، صرح إيشيبا أن مواقف الطرفين لا تزال “بعيدة جداً عن بعضها البعض”.
Accelerated agreements between America and allied countries: Britain, South Korea, and China
In contrast, Washington made progress with the United Kingdom, with Trump announcing an agreement to reduce tariffs on British cars, aluminum, and steel, in exchange for London reducing tariffs on American beef and ethanol.
وفي ظل التصعيد، أعلنت إدارة ترامب استعدادها لتمديد المهلة المؤقتة لتعليق الرسوم، شريطة أن تبرهن الدول المتفاوضة – مثل الاتحاد الأوروبي – على نيتها التفاوض بـ”نية حسنة”، بحسب وزير الخزانة الأمريكي سكوت بيسنت Scott Bessent في جلسة استماع أمام الكونغرس، نقلاً عن رويترز.
On the monetary policy front, President Trump called on the US Federal Reserve to cut interest rates by a full percentage point after data showed a slight increase in the US inflation rate in May to 2.41% year-on-year. The Fed had previously kept the interest rate between 4.25% and 4.51%.
Sydbank's chief economist, Søren Kristensen, warned that the full impact of the new charges has not yet been reflected in the economic figures, as many stores are still relying on previous stock purchased before the new charges were imposed.
US inflation is putting pressure on markets, with direct repercussions for the European continent.
While financial markets are monitoring developments in these trade disputes, the World Bank Group announced a significant reduction in its forecast for global economic growth in 2025 by 0.4 percentage points, from 2.8% to 2.4%, attributing this decline to the trade wars led by Trump, which are expected to negatively affect US economic growth as well, as it will see a slowdown compared to 2024.
Meanwhile, South Korea's Blue House indicated that President Trump and his new South Korean counterpart, Lee Jae-myung, agreed during their first phone call to accelerate trade negotiations to reach a swift agreement on tariffs. South Korea is also subject to a tariff freeze period that extends until July 9.
With Mexico, tensions have eased, with Mexican President Claudia Sheinbaum announcing a significant decrease in fentanyl smuggling to the United States by 40%, one of the reasons Trump used to justify imposing tariffs of 25% on Mexican goods, even though many of those goods are not covered by these tariffs under the trilateral trade agreement.
It is worth noting that American car companies such as Stellantis, Ford, and General Motors saw their shares rise after obtaining licenses to import rare earth metals from China, which are important elements in the electric and traditional car industry, as Stellantis shares rose by 2.5%, Ford by 1.6%, and General Motors by 0.8%.
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