Mr Sapin warns President Trump poses 'grave risk to world trade order'
Mr Sapin, who was addressing an audience of international economists gathered at the finance ministry in Paris, warned Mr Trump’s isolationist policies would shatter the status quo and jeopardise the world trading system.
He said: "Our American partner appears to want to take unilaterally protectionist decisions which could destabilise the whole world economy.
Mr Sapin also warned Mr Trump’s isolationist policies would shatter the status quo
Global trade is in a really bad shape. It is our duty to fight for free and fair trade
“Decisions by the new US administration are posing a grave risk to the world trade order.”
The stanch socialist and defender of free trade said that EU member states would have to stand up to Mr Trump and his close-knit team to “prevent the collapse of global institutions”.
He said: ”Neither France nor Europe… can watch helplessly as our economic institutions risk being dislocated…
Mr Trump's efforts to reimpose trade barriers were doomed to fail, says Mr Sapin
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US President Donald J. Trump attends a meeting on cyber security, in the Roosevelt Room of the White House, in Washington, DC, USA, 31 January 2017
“As the world’s largest trading block, the EU will continue to protect and defend its own interests and will do whatever it takes to counter Mr Trump’s trade policies.”
Mr Sapin added that history had taught the world that turning inward was self-destructive, and that efforts to reimpose trade barriers were doomed to fail.
He said: “Global trade is in a really bad shape. It is our duty to fight for free and fair trade.”