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Macron to fight to de-escalate trade tensions, encourage stimulus

FILE PHOTO: French President Emmanuel Macron delivers a speech on environment and social equality to business leaders on the eve of the G7 summit in Paris, France August 23, 2019. Michel Spingler/Pool via REUTERS

PARIS (Reuters) - French President Emmanuel Macron said on Saturday he hoped to convince G7 leaders to pull back from a trade war which is already destabilizing economic growth around the world.

“(I want) to convince all our partners that tensions, and trade tensions in particular are bad for everybody,” Macron told the French in a televised address.

“We must succeed in reaching a de-escalation, stabilize things and avoid this trade war which is already taking place everywhere,” he added.

Macron said G7 countries should also engage in economic stimulus to prevent world economies from falling into recession.

“We must find new ways to launch real stimulus, stimulate growth,” Macron said, pointing at rock-bottom interest rates which he said should spur countries with budgetary room for maneuver to invest in education and job-creating initiatives.

Reporting by Michel Rose; Editing by Leigh Thomas