EU Ambassador To US Offers Plan To Compete With China (BBJ Story)
The European Union ambassador to the U.S. said the Western powers must work together instead of engaging in tariff fights in order to withstand competition from China. Stavros Lambrinidis, the E.U. ambassador, preached unity and refuted comments by President Donald Trump during a roundtable discussion on trade issues Tuesday at Tradepoint Atlantic's offices in Sparrows Point. The event took place just a few hours after Trump stirred controversy while attending a NATO summit in London. Trump suggested he would like to wait until after the 2020 election to do a trade deal with China. The U.S. and China have been raising tariffs on billions of dollars of goods as part of a trade war, complicating supply chains for global companies and resulting in increased costs that have been passed on to consumers.