Lagarde reiterates Europe, US shouldn’t engage in subsidy race
by Bloomberg Apr 22, 2024
European Central Bank President Christine Lagarde reiterated that Europe and the US should avoid excessively offering economic perks in a bid to boost growth.
“We should not become engaged in a subsidy race between our economies, which creates a zero-sum game,” Lagarde said Monday in a speech at Yale University.
“We should instead ensure that we use our collective weight in international trade to discourage others from anti-competitive practices, while increasing the free flow of ideas amongst ourselves — a positive-sum game,” she said.
The remarks echo comments last week by Lagarde, who reckons Europe and the US would be better served by ensuring “a level playing field between countries that play by the rules,” while acting “robustly” where rules are being broken to create an unfair advantage.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
Similar Stories
Yen’s sustained weakness frustrates even Japanese exporters
View ArticleTurkey halts all trade with Israel over war in Gaza
Turkey stopped all trade with Israel as of Thursday, according to two Turkish officials familiar with the matter, adding to already high-running tensions between the once-close allies over the war…
View ArticleFrench cognac producers push for deal on China dumping probe
Cognac makers hit with allegations of dumping French brandy in China called for a deal to end the dispute ahead of President Xi Jinping’s state visit to France.
View ArticleUS sanctions firms in China, UAE for support of Russia’s war
The US on Wednesday announced sanctions on nearly 300 companies and individuals, including in China and the United Arab Emirates, for alleged support of Russia’s invasion of Ukraine.
View Article
Canada unexpectedly flips to deepest trade deficit since June
View Article
South Korea’s export growth picks up, led by record US demand
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
