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Donald Trump’s Davos speech: Should Europe really fear tariffs?

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Donald Trump's speech at Davos offered little substance behind the grand financial pledges.

Trump 's focus on trade imbalances ignores economic reality: as long as the US dollar retains its dominant role in global finance, these deficits are not an imminent threat but a structural feature of the international economic system.

Europe should avoid being drawn into unnecessary concessions and instead continue capitalising on its competitive strengths, writes Piero Piero .