French President Emmanuel Macron reportedly told President Donald Trump at the North Atlantic Treaty Organization summit earlier this month that he had read the American leader’s best-selling “The Art of the Deal,” and he was employing its lessons in handling contentious trade issues with the U.S.
Axios reported that Trump has been “frustrated” by the European Union imposing retaliatory tariffs after the United States announced its tariffs on aluminum and steel earlier this year.
The president has indicated the reason he made the move in the first place is because EU countries, like France, already impose tariffs on U.S. goods.
In its new round of tariffs, according to USA Today, the EU targeted products meant to inflict as much political pain on Trump as possible, including Kentucky’s bourbon industry, Harley Davidson motorcycles and America’s iconic Levi brand jeans.
During a back and forth, Trump suggested to Macron that he tell the EU that they should negotiate with the U.S., a source familiar with the conversation told Axios.
The French president responded that he did not favor negotiating just yet.
“I read ‘The Art of the Deal,'” the French president reportedly told Trump. “I know that we need to retaliate first so we have some leverage in the negotiation.”
It remained in the top spot for 13 straight weeks and on the list for 48 weeks in all.
Over 1 million copies have been sold.
The book is part memoir of the New York City tycoon’s rise to prominence as a real estate developer and part business guide.
In 2015, after Trump announced his candidacy for the presidency, Business Insider summarized the lessons from the book, one of which is “use your leverage.”
“The only way you’re going to make the deal you want, he says, is if you’re coming from a position of strength and can convince the other side that you have something they need,” Business Insider recounted.
Trump has argued that the United States has the position of strength in trade negotiations because it is the largest economy in the world.
Further, the nations he is seeking better deals with through the imposition of tariffs currently have very large trade surpluses with the U.S.
Trump tweeted on Tuesday, “The European Union is coming to Washington tomorrow to negotiate a deal on Trade.”
The European Union is coming to Washington tomorrow to negotiate a deal on Trade. I have an idea for them. Both the U.S. and the E.U. drop all Tariffs, Barriers and Subsidies! That would finally be called Free Market and Fair Trade! Hope they do it, we are ready – but they won’t!
— Donald J. Trump (@realDonaldTrump) July 25, 2018
“I have an idea for them. Both the U.S. and the E.U. drop all Tariffs, Barriers and Subsidies!” he added. “That would finally be called Free Market and Fair Trade! Hope they do it, we are ready – but they won’t!”
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