Interesting article from the WSJ.
Two points.
1/ Europe's rising trade surplus with the United States is an important counterpoint to claims that the trade war drove Europe's 2019 slowdown.
wsj.com/articles/trump…
1/x
Two points.
1/ Europe's rising trade surplus with the United States is an important counterpoint to claims that the trade war drove Europe's 2019 slowdown.
wsj.com/articles/trump…
1/x
and 2/ the Trump administration is barking up the wrong tree when it blames European trade policy for Europe's rising trade surplus with the U.S.
The surplus is clearly the result of different macroeconomic policy stances.
2/x
cfr.org/blog/why-globa…
The surplus is clearly the result of different macroeconomic policy stances.
2/x
cfr.org/blog/why-globa…
The imbalance reflects in large part Europe's decision to right a tighter fiscal policy after the global financial crisis than it did before (even with lower rates), and the United States' decision to do the opposite.
3/3
3/3
