“We are out of step with the composition of the world. We regulate too much, we invest too little, we are too open and we don’t defend our interests enough”, said French President Emmanuel Macron in his speech on Europe on Thursday 25 April (see other news).
In his view, the EU needs to be less naive on the trade front, and that means mirror clauses in free trade agreements or the extension of the Carbon Border Adjustment Mechanism (CBAM). This is precisely where his method differs...