Trump needs a US-EU trade deal or FB, Amazon and Google may lose dominance

A trade war with Europe would be much more costly than one with China, where trade is more focused on physical goods and logistics

Donald Trump recently stepped back from the brink of a trade war with the EU. Following a visit to the White House by the European Commission chief, Jean Claude Juncker, the two leaders issued a joint statement where they agreed to “work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods”.

Investors and executives in Silicon Valley will be breathing a sigh of relief. A trade war with Europe would not only have an immediate cost to American exporters, it might also provide the EU with an opportunity to dismantle some of America’s