Trade

The Overcapacity Pact

Fourteen economies signed a US-led statement against industrial overcapacity this week. France signed too. China calls it protectionism. Sam Kessler on the pact that names its target without naming it.

Read →

The Piggy Bank

France's Europe minister went on television and said the 4.6-billion-euro fine extracted from Google should count as a 'new revenue stream' for the EU budget. The White House called it extortion. The digital-services tax fight has entered a new round.

Read →

The Diesel Mène

Washington threatened to shut off diesel exports unless Europe opened its emergency reserves; on October 2, after a call with Trump and a G7 videoconference chaired by Macron, the allies agreed to release 100 million barrels. A mène played with fuel instead of boules — and the shooter holding the biggest threat.

Read →

The Hundred-Percent Tir

Washington is threatening 100% tariffs on French wine and champagne to force Paris to drop its tax on American tech giants — the biggest tir in a trade mène that has been running since 2019.

Read →