Following the decision by the American people to elect Donald J. Trump as their next President, David Martin, Labour MEP for Scotland and International Trade Spokesperson for the Socialists and Democrats group in the European Parliament, said:
“Following Trump’s victory, the EU now has to take the lead on the global trade agenda, creating progressive rules and combatting protectionism.
If President Trump follows through on his promises on trade, such as a 45% tariff on all imports from China, this could start a global trade war with disastrous consequences. Given his proposed 35% tariff on Mexican products entering the USA, it also not surprising that the Peso is dropping like a stone.
Now more than ever, the world needs an EU approach to trade - one that can bring down barriers whilst benefitting a wide range of citizens and promoting our shared values.”