Olga Ponomareva on the US trade wars

«The US tariffs’ main goal is to eliminate the foreign trade imbalance with key partners and reduce the US dependence on global markets. At the same time, the United States is trying to demonstrate the leadership and strength of its economy by holding back the development of its competitors, primarily China, in the high-tech field," Olga Ponomareva, expert at the Economic Policy Foundation, told the RT.

According to Olga Ponomareva, Europe expects that the growing tensions in relations with Washington will allow Brussels to strengthen trade ties with other partners, primarily Asia and Latin America, to make up for the loss of US goods and a large sales market in the United States. At the same time, amid severe restrictions many European companies, mostly high-tech companies, will start a large-scale shifting of their production facilities from the EU to the United States. According to Olga Ponomareva, the extent of the consequences of the US restrictions for Europe will depend on the tariffs’ final configuration.

Tuesday, 04.03.2025