Carl Bildt, former prime minister of Sweden and co-chair of the European Council on Foreign Relations, shares his perspective on European politics from Stockholm, Sweden.
What's going to be the reaction to the Trump trade war against Europe but also against the rest of the world?
Well, it was worse than expected. What you will hear coming out of Brussels is strong words, but also saying, "Well, let's try and see if we can mitigate, if we can negotiate, if we can have some changes in this." That's going to take some time. Not much hope that that will produce anything. But anyhow, the attempt will be made. And then I would expect fairly strong European countermeasures.
But then, I think the global impact of it is really astonishing. Key US allies and partners in Asia have been hit much harder, even harder than Europe. So, we see the US in terms of economy retreating from the world, and trying to build its own small fortress there behind its oceans. For us, Europeans, the conclusion must be to do the opposite, to reach out to the world. 87% of global imports are not in the US. Two thirds of the growth of the global economy is going to be in Asia-Pacific in the years to come. So, Europe, well, US is doing its own thing, can't do very much about that. But we must be even more strategic, offensive, forward-looking in reaching out to the rest of the world. Develop and preserve as much as we can of an open global trading system. That is the way to prosperity in the future.