Expect a Targeted Retaliation From EU on U.S. Auto Tariffs, Says Berenberg’s Pickering

The video discusses the EU's potential to retaliate against the US in trade disputes, highlighting the EU's strategic position and lack of geostrategic rivalry with the US. It explores the impact of trade tensions on global markets, particularly in the context of the 2020 US elections and the automotive industry. The discussion also covers the current global economic outlook, noting weak economic data in Europe, mixed data in the US, and soft conditions in China. The video suggests that trade tensions could further undermine global economic confidence, but progress by summer could improve the situation.

What is the expected impact of a trade war on European and US economies according to the text?

What is the significance of viewing trade tensions as a bargaining chip?