France’s finance minister, Bruno Le Maire, who was also making the rounds at Davos, quickly shot back. “If we were to be hit by American tariffs, we would have no choice but to retaliate,” he told The Wall Street Journal. Mr. Le Maire said the EU had already shown itself prepared to retaliate when the U.S. imposed tariffs on European steel. “A trade war between U.S. and Europe would be a full political and economic failure,” he said. More In many ways, Europe is less vulnerable to U.S. levies than China. The U.S. exports three times more to the EU than it does to China, giving Europe plenty of targets for retaliation. In the U.S., Europe’s trade policies aren’t viewed as negatively as China’s. And Western Europe, unlike China, is a strategic ally of the U.S. That could leave Mr. Trump with less domestic backing for a trans-Atlantic trade […]