After the US on Sunday put on hold a looming trade war with China, Europe is fearing that a possible trade deal between the two could hurt them. French Economy Minister Bruno Le Maire described such a deal at the expense of Europe as absurd and incomprehensible. The US is trying to make Europe pay for China’s bad behaviour, Le Maire said, adding that European countries should deal with the situation firmly. Earlier, US Treasury Secretary Steven Mnuchin said the US and China have agreed to put the tariffs on hold until they agreed on a framework. China on Saturday agreed to significantly increase purchases of US products to cut trade deficit with China from $375 billion to $200 billion by 2020. US is expecting a 35-40% increase in agricultural exports. Mnuchin declined to go into the details.
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