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thereby significantly approached the boarderline of an open trade war. 172 Literally at<br />
the last minute president Bush (jr.) lifted the tariffs in the “Steel Safeguard Case”, in<br />
order to avoid cross retaliation by the EU and other countries. – This cannot obscure<br />
the fact that this economic conflict is latent and consequently the currency-competition<br />
between the Euro and the dollar is also affected. The competition for markets<br />
between the EU and the U.S. is also revealed in Latin America: The European bilateral<br />
strategy after the implementation of the FTAs with Chile and Mexico, to rapidly<br />
conclude a bilateral agreement with MERCOSUR – if possible before the signing of<br />
the Free Trade Area of the Americas (FTAA/ALCA) – is also a reflection of this:<br />
“The race [between the U.S. and Europe] will not be continued in Latin<br />
America alone, but it is the playing field where, with the FTAA and the EU-<br />
MERCOSUR projects, the competition between the Euro and the dollar is<br />
reflected most explicitly. 173 ”<br />
According to a report from the ila journal, the feeling of rivalry between the U.S.<br />
and Europe concerning the competition for Latin American markets has in the meantime<br />
reached a critical mass:<br />
“German economic officials look towards a possible overall American free<br />
trade area with discomfort. 174 ”<br />
And the new fourth generation of regional trade agreements aims primarily at<br />
enforcing European commercial and economic interests:<br />
“The EU has so far not been able to demonstrate in a convincing manner, that<br />
the extensive agenda of the new generation of trade agreements promotes<br />
a broad socially just and ecologically compatible development in the South.<br />
The European trade policy is a horse of a different color: The Community aims<br />
to expand its exports to the countries of the South and will concentrate on<br />
safeguarding new markets, particularly in the areas of high technologies and<br />
services, but also with respect to the enlargement of foreign investment-flows<br />
in the processing sector, privatization-programs and investment in extractive<br />
industries. Strategically the EU is out to set a trade-related counterbalance<br />
172 Topstory-report, BBC World News, November 18, 2003.<br />
173 Own translation of the following original text: “Das Rennen [zwischen USA und Europa] wird nicht nur in Lateinamerika<br />
weitergehen, aber es ist das Spielfeld, auf dem sich mit ALCA und mit dem EU-MERCOSUR-Vorhaben die<br />
Konkurrenz zwischen Euro und Dollar am deutlichsten widerspiegelt.” Taken from: Ling, Martin: Lateinamerika im<br />
Visier der Europäischen Union. Europa wetteifert mit den USA um den Markt der wiederentdeckten “Neuen Welt”,<br />
in: Lateinamerika Nachrichten No. 349/350, Berlin: July/August 2003, p. 7.<br />
174 Own translation of the following original text: “Deutsche Wirtschaftsbeamte sehen einer möglichen<br />
gesamtamerikanischen Freihandelszone mit Unbehagen entgegen.” Taken from: Daniel Boss: Wettlauf mit den<br />
USA. Deutsche Wirtschaftsbeamte sehen einer möglichen gesamtamerikanischen Freihandelszone mit Unbehagen<br />
entgegen, in: ila No. 260, November 15, 2002, p. 34.<br />
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