Former EU Financial Commissioner, Former Italian Prime Minister Paolo Gentiloni Evaluate the US situation right now in an exceptionally gloomy tone.
“The United States is working actively right now to dismantle the world order,” he says In an interview with La Stampa magazine.
Gentilone highlights the fact that several major American investment banks and asset managers such as Goldman Sachs, JP Morgan and Blackrock are afraid of the US recession.
“Donald Trump, who took off his promises of a new golden age, is now threatening a double risk of recession and inflation,” he says.
According to Gentilon, it is quite clear that the 90 -day break for import duties prescribed by Trump this week is the result of chaos in the state loan market. The interest rates on US government bonds rose completely this week, and economic experts are already warning about the downward spiral.
“This is an unprecedented phenomenon: the former investors’ safe haven has become a risk,” former Commissioner says.
Vice -President of the Current European Commission, Technology Commissioner Henna Virkkunen (co) outlines In an interview with La Stampathat the European Union is ready to negotiate imports with the United States, but it has no intention of putting so -called Big Tech rules on large digital waste on the table.
“We are positive about this (90 -day) break because we have always said that we do not want tariffs. On the contrary, we want a trade relationship that benefits both sides, not a trade war that is clearly not profitable. With him, ”Virkkunen comments.
At the same time, he points out that for many major American technology companies, the EU is the second most important market area.
“Some have more users here than in the United States. We have rules that apply to all, they are not barriers to trade: they apply to European, American and Chinese companies. We have a risk -based approach: stricter rules for those with more influence or who have” gatekeepers “.
Pessimists.
Ex-Commissioner Paolo Gentiloni says the United States is currently unloading world order.
Kuva: Mauro Scrobogna
Paolo Gentiloni believes that the current situation also provides the EU with a great opportunity to become a “master” of international rules, commerce, multilaterality and the rule of law.
“Sooner or later, the United States returns to its old role, but it is difficult to imagine that this could happen during the Trump season. It is not just a problem in financial interests: the market and the allies are a trust crisis.”
At the same time, he warns the Europeans not to trust China too much.
“The dialogue with China will surely be reopened, but it is not easy and it all depends on the Chinese willingness to limit their overpowering. If that were, if the Chinese were ready to increase domestic consumption, a new season of cooperation would be possible. I am afraid that the level of US customs will make it all and clearly end up in Europe.”
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