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1. The Role of Trade as a Growth Engine in the Past From the late 20th century to the early 21st century, trade expansion was considered a key driver of global economic growth. As globalization progressed, trade barriers were lowered, and supply chains expanded, allowing businesses to focus on low-cost production and market expansion. This trend provided growth opportunities for both developed and emerging economies, fostering economic cooperation and mutual development. For instance, reports from the IMF and World Bank indicate that from the 1990s to the mid-2000s, global trade grew faster than global GDP, playing a crucial role in driving economic growth. 2. The Rise of Protectionism and the Slowdown of Trade as an Engine However, after the 2008 global financial crisis, protectionism began to re-emerge. Major economies, including the United States, started to impose trade barriers to address trade deficits and protect domestic industries, disrupting global trade flows. Notably,...

  Introduction The European Union (EU) is taking a dual approach in response to the U.S. government's threat to impose high tariffs on steel and aluminum imports. As former U.S. President Donald Trump announced plans for a 25% tariff on steel and a 10% tariff on aluminum, the EU is engaging in diplomatic negotiations while also preparing countermeasures to protect its industries and economic interests. Diplomatic Efforts to Prevent a Trade War The EU has been actively engaging in diplomatic discussions with U.S. officials to prevent the escalation of a trade war. European Commission President Ursula von der Leyen has strongly opposed the tariffs, labeling them as "unjustified" and asserting that the EU will respond firmly. Several high-level meetings between EU representatives and their U.S. counterparts have taken place. European Commission Vice President Maroš Šefčovič recently visited Washington, emphasizing the need for fair and reciprocal trade practices. EU off...