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European shipowners deeply concerned about looming prospect of global trade war

European shipowners, represented by the European Community Shipowners’ Associations ECSA, express their deepest concerns about recent developments on global bilateral trade relations. The result of the G7 meeting last weekend offered no improvement, on the contrary.

European shipowners recall that open trade relations based on transparent rules and procedures are crucial for world trade and world economic growth and prosperity. Any unilateral measures appearing to show benefits at the short term will in the longer term prove to be counterproductive for all. Imbalances in trade relations have to be taken care of by sound economic policy measures, not by taking short sighted measures not addressing real possibilities for improvements.

European shipowners, while understanding the need for Europe to act if need be, call upon all stakeholders to take their responsibility and to make sure that world trade remains the driver for economic prosperity all over the world.

Source: ECSA

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