‘ECONOMIC NATIONALISM’ Macron blasts Trump’s tariffs and demands EU respond in TAX WAR

The French President said the European Union must take urgent action at the World Trade Organisation (WTO) if the US goes ahead with the new tariffs.

Speaking after meeting Quebec Premier Philippe Couillard, Mr Macron said the planned measures amounted to “economic nationalism” and nationalism was a war in which all sides lose.

He added: “It is important in this context that the European Union reacts swiftly and proportionately within the WTO and in respect of the WTO.

Mr Macron joins a growing number of world leaders who have expressed major concerns about the import tariff plans and fears are continuing to grow about the prospect of a trade war.

Over the weekend Theresa May expressed “deep concern” about the Mr Trump’s plan.

A Downing Street spokesperson said: “The Prime Minister raised our deep concern at the President’s forthcoming announcement on steel and aluminium tariffs, noting that multilateral action was the only way to resolve the problem of global overcapacity in all parties’ interests.”

However the Prime Minister still remains confident the UK will secure a trade deal with the US after Brexit despite new tariffs.

Mrs May’s spokesman said: “I think both the President and the Prime Minister have been clear on the importance of reaching a post-Brexit bilateral trade deal.”

More to follow…