Ursula von der Leyen, the President of the European Commission, defended the trade agreement between the European Union and the United States, asserting that it prevented the outbreak of a wide-ranging trade war "that would only be celebrated in Moscow and Beijing."
Von der Leyen's remarks came through articles she published in the Italian newspaper Sole 24 Ore and the German Frankfurter Allgemeine Zeitung on Sunday, August 25, in response to the sharp criticisms leveled by Mario Draghi, the former President of the European Central Bank and former Italian Prime Minister.
Draghi had recently accused the European Union of "ignoring" the handling of U.S. tariffs and imminent trade wars, considering that Brussels had succumbed to pressure from Washington. He emphasized that the European Union had lost much of its negotiating power against the United States.
For her part, von der Leyen acknowledged that the trade agreement with the United States was "flawed," but she affirmed that it was necessary to achieve stability. She stated that retaliatory tariffs imposed by the European Union would have led to igniting a costly trade war that would harm workers, consumers, and the European industry.
She added that the European Union would continue to work on opening new markets, referring to the agreements signed with Mexico, Mercosur, Switzerland, the United Kingdom, and Indonesia, with upcoming negotiations with India. She emphasized that a "strong and independent" Europe, with a single market and competitive industry, is capable of withstanding challenges.
