The economist did not rule out the creation of an economic union between the EU and China

Due to the consequences of US President Donald Trump's trade policy for Europe, the formation of an economic alliance between the EU and China in response to US actions is not excluded. This opinion was shared by Georgy Ostapkovich, Director of the Center for Economic Studies at the Higher School of Economics, in an interview with Izvestia on April 17.

Earlier it was reported that the total costs of the European Union due to US duties in the period from 2025 to 2028 could amount to € 1.1 trillion.

"€1 trillion is, in general, a decent amount. But if Trump acts so bluntly and continues to impose such duties, Europe's losses will be much greater," Ostapkovich said.

According to him, it is necessary to take into account not only direct losses, but also indirect consequences, such as the relocation of factories from Europe to the United States and changes in logistics.

"It seems to me that this is still more rhetoric on Trump's part. Eventually, they will sit down at the table, look into each other's eyes and end all these unnecessary wars," the economist added.

At the same time, he noted that the actions of the United States could push the EU towards rapprochement with China.

"Trump will probably be afraid that Europe may create — and this is what it's coming to — an economic union with China. Then it will be bad for America," he said.

According to the expert, the situation remains extremely uncertain now, and it is premature to make accurate forecasts.

"Trump is imposing duties today, canceling them tomorrow, and introducing them again the day after tomorrow. Let's wait another month, a month and a half, or two, to see how it all ends for the world," Ostapkovich summed up.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

On April 2, US President Donald Trump announced the introduction of 10% base duties on products imported from other countries. For the European Union (EU), this figure was raised to 20%, and for China — to 34%. On April 4, Beijing imposed retaliatory duties of 34% against the United States, after which Washington announced an increase in anti-Chinese duties to 104%. Later, the authorities in Beijing decided to raise duties on imported goods from the United States to 84% as a mirror measure.

On April 9, Trump announced the suspension of duties previously imposed on a number of countries for 90 days. He also announced an immediate increase in duties on products from China to 125%. On April 10, this figure reached 145%.