EU FinMins Distance Themselves From Trump, G-20 on Trade

The transcript discusses the importance of long-term trade deals and the need to build bridges rather than walls in international relations. It highlights the European Union's commitment to open trade and the challenges posed by rising protectionism. The speaker expresses concern about the impact of protectionism on European economies and emphasizes the need to counter this trend by promoting the benefits of open trade.

What is the expected impact of a trade deal with Japan in the summer?

• It will only benefit Japan.

• It will make a huge difference.

• It will have no significant impact.

• It will be detrimental to the EU.

What is the EU's approach towards international relations as mentioned in the transcript?

• Isolating from Asian partners.

• Building walls to protect local industries.

• Focusing solely on political alliances.

• Building bridges, including human, political, and trade connections.

Why is there concern about the questioning of open trade and globalization?

• It has always been considered harmful.

• It leads to increased protectionism.

• It is believed to benefit only a few countries.

• There was a long-standing consensus that it was beneficial for all.

What is the main concern regarding protectionism for European economies?

• It poses a significant risk due to their openness.

• It will lead to increased globalization.

• It will have no effect on open economies.

• It will only affect non-European countries.

What lesson should countries learn from past experiences with protectionism?

• Protectionism always leads to economic growth.

• Protectionism has no historical impact.

• Countries have had negative experiences with protectionism.

• Protectionism is the best way to protect local industries.