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Edward Fishman: How can Europe stop Trump’s economic threats?
Faced with economic coercion, Europe has trodden carefully. My experience tells me that’s not enough.
In this article, Edward Fishman examines how President Donald Trump has repeatedly used tariffs, trade pressure, and economic threats to coerce allies and rivals alike—and why Europe must rethink its response if it hopes to withstand continued pressure.
Drawing on his experience designing U.S. sanctions, Fishman argues that economic coercion only works when the target capitulates. He points to how countries such as India, Brazil, and China resisted Trump-era pressure by combining three core strategies: resolve, resilience, and retaliation. India, under Narendra Modi, rallied domestic support and refused to appease punitive tariffs. Brazil, led by Luiz Inácio Lula da Silva, redirected trade away from the U.S., stripping Washington of leverage. China, under Xi Jinping, retaliated directly by weaponizing its control over rare-earth minerals—forcing the U.S. to negotiate.
Fishman warns that Europe has too often defaulted to accommodation, leaving itself vulnerable. To protect its autonomy, Europe must prepare its public to absorb short-term economic pain, diversify trade relationships, and—most critically—develop credible retaliation options. The transatlantic relationship, he notes, is one of interdependence, not one-sided reliance, giving Europe more leverage than it has been willing to use.
Visit The Guardian to read the full article.
Edward Fishman is one of the world’s foremost experts on economic statecraft, with deep experience shaping U.S. foreign policy. His New York Times–bestselling book Chokepoints: American Power in the Age of Economic Warfare is widely regarded as definitive and essential to understand how sanctions, tariffs, and export controls are reshaping the world. A Columbia University scholar, he brings sharp, timely insights into how economic warfare is transforming geopolitics and the business landscape. His ability to translate complex global dynamics into compelling narratives makes him a standout keynote speaker for any audience. Contact us today to learn more.
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