European policy makers and companies should focus on internal growth apart from FTA. Protection of interests is essential in the wake of the ongoing trade wars. In order to reduce dependency, Europe should concentrate on internal markets. The European domestic market was neglected since a very long time and this approach needs to change.
U.S. President Donald Trump withdrew from global trade agreements and subsequently raised duties and tariffs on certain European and Chinese goods. As a result, tariffs were imposed on certain U.S. goods leading to tensions in the trade sector and significant economic slowdown.