“We seem to err more on what I would call a checkbook strategy,” she told the Financial Times in an interview published Thursday, highlighting that last time the EU’s strategy was “not to retaliate, but to negotiate.”

Lagarde repeated earlier warnings on the negative effects of a full-blown trade war and said that “we could offer to buy certain things from the United States and signal that we are prepared to sit at the table and see how we can work together.”

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