THE ASSAULT ON TRADE

President Donald Trump's misguided trade war against the rest of the world could mark the beginning of the end for both his political dominance and his "Make America Great Again" (MAGA) movement - but only if Germany and Europe can coordinate a powerful international response.

- Marcel Fratzscher

The Buropean Commission and the outgoing German government's biggest mistake was to signal a willingness to concede to Trump's demands, potentially turning his economic blunder into a political victory. It should be clear by now that appeasing Trump will only hasten the collapse of the multilateral trading system and further undermine democratic governance worldwide.

The European Union's response will be pivotal in determining whether the Trump administration (which is intent on dismantling the multilateral trading order) or China (which seeks to preserve it) will prevail. European leaders face a clear choice: stand for multilateralism and align with China or side with Trump's MAGA-fied United States. There is no third option. Germany and Europe cannot remain neutral in this conflict. Giving in to Trump's demands by pursuing a bilateral trade agreement would be tantamount to endorsing the end of multilateralism.