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I dont know if anyone is actually interested in the subject in an objective sense,
But EU exports as share of total world exports is 20%, while USA has 18%.
Numbers for imports are 18% and 22% respectively.
This means that at the moment USA is more dependant in import than EU. Bush's move maybe a try to fix this, who knows?
One thing is for sure, free trade is reality between high tech consumer products but not raw materials, textiles etc. This puts 3rd world countries in a very bad position. USA can export computers without tariffs, but Vietnamese cannot export catfish without tariff, because that fisherman in Louisiana must have his job.
As far as economic wars: "We can be friends in the battlefield, but not in the boardroom"
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