22.11.2022, 13:59
The State Duma assessed the likelihood of a trade war between Europe and the United States
Source: OREANDA-NEWS
OREANDA-NEWS Yevgeny Nifantiev, a member of the State Duma Committee on Industry and Trade, said that Europe can no longer resist the US economy due to the fact that it has completely "fallen under American policy."
Thus, he commented on an article by Politico that Europe is preparing to respond to the United States on the entry into force of the American law on reducing inflation on January 1. These measures could lead to a transatlantic trade war.
The politician notes that Europe has ceased to be able to resist the American economy due to the fact that it has completely fallen under American policy. Nifantiev noted that today it is possible to observe how the European Union "on its own initiative is taking leaps and bounds towards its own deindustrialization."
Nifantiev said that through sanctions, Europe got rid of open markets, only technologies remained, but "what to do with them if any production becomes uncompetitive in comparison with analogues from the United States?" According to the deputy, this is due to the fact that resources coming from the United States and other countries, including energy, make European products are more expensive than those analogues that are produced in America.
"In my opinion, these are obvious things that the Europeans should have calculated, but either did not do it, or hoped for an alignment of energy prices with the United States, which, you will agree, is naive to the point of impossibility, or the EU political elites simply surrendered the interests of Europe for some prize. There is another option that they were counting on the defeat of Russia and the subsequent division of our resource base, but then completely stupid people," the politician said.
He stressed that "there can be no question of any hydrogen or renewable energy on the scale necessary for the EU." The deputy noted that "if we summarize all of the above, it becomes clear that Europe will not be able to impose a trade war on the United States."
"The US will win by one wicket, simply redirecting part of the LNG to Asian markets, which will lead to an instant collapse in the EU. Europe can no longer work for the Europeans. It was brought as fodder for American business. European society could have corrected the situation, but given the totalitarian nature of today's governance in European countries, I do not believe that the voice of society could rise above the abyss. There will be no trade war. Americans in the EU have no one to fight with," Nifantiev concluded.
Thus, he commented on an article by Politico that Europe is preparing to respond to the United States on the entry into force of the American law on reducing inflation on January 1. These measures could lead to a transatlantic trade war.
The politician notes that Europe has ceased to be able to resist the American economy due to the fact that it has completely fallen under American policy. Nifantiev noted that today it is possible to observe how the European Union "on its own initiative is taking leaps and bounds towards its own deindustrialization."
Nifantiev said that through sanctions, Europe got rid of open markets, only technologies remained, but "what to do with them if any production becomes uncompetitive in comparison with analogues from the United States?" According to the deputy, this is due to the fact that resources coming from the United States and other countries, including energy, make European products are more expensive than those analogues that are produced in America.
"In my opinion, these are obvious things that the Europeans should have calculated, but either did not do it, or hoped for an alignment of energy prices with the United States, which, you will agree, is naive to the point of impossibility, or the EU political elites simply surrendered the interests of Europe for some prize. There is another option that they were counting on the defeat of Russia and the subsequent division of our resource base, but then completely stupid people," the politician said.
He stressed that "there can be no question of any hydrogen or renewable energy on the scale necessary for the EU." The deputy noted that "if we summarize all of the above, it becomes clear that Europe will not be able to impose a trade war on the United States."
"The US will win by one wicket, simply redirecting part of the LNG to Asian markets, which will lead to an instant collapse in the EU. Europe can no longer work for the Europeans. It was brought as fodder for American business. European society could have corrected the situation, but given the totalitarian nature of today's governance in European countries, I do not believe that the voice of society could rise above the abyss. There will be no trade war. Americans in the EU have no one to fight with," Nifantiev concluded.
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