Trade war is always war lost by all, says Macron
acron made the remarks at the opening of the ministerial session of the Organization for Economic Cooperation and Development (OECD) held here.
Unilateral responses and threats of a trade war "will not solve at all" the serious imbalances in world trade, said Macron.
"These remedies may bring a symbolic satisfaction in the short term, because they seem more intelligible, perhaps," said Macron.
But those who led bilateral trade wars recently have already seen price hikes and unemployment rises, according to Macron.
This is because the reality of today's international trade "is no longer bilateral," said Macron.
While illustrating the phone-making industry, Macron said a cellphone nowadays could be designed in California and assembled in China, and some parts may even have passed through Europe. "It's globally made."
Representatives from the United States, Britain, Japan and the European Union attended the OECD meeting and held discussions on topics including how to promote inclusive growth. ■