Posted on 03/08/2018 10:37:31 AM PST by reaganaut1
The European Union on Wednesday released its target list of retaliatory tariffs on American exports worth $3.5 billion if President Trump pushes ahead with his steel and aluminum tariffs. This is how Mr. Trumps trade irruptions could imperil American exporters and become a destructive spiral.
The EU is acting with some restraintfor nowin crafting a narrow list of items on which to impose tariffs, including bourbon, orange juice, corn, ladders and motor boats. None are vital to European industry, but they are politically shrewd in targeting exports from states represented by Republicans on Capitol Hill. The point is to punish voters in states Mr. Trump carried in 2016 and Republicans running for re-election this year. Too bad Europe cant impose a tariff on Wilbur Ross and Peter Navarro, the architects of this fiasco.
The danger for the EU is that this will inspire Mr. Trump to indulge his schoolyard impulses and hit back at the EU again. The European Union has been particularly tough on the United States. They make it almost impossible for us to do business with them, Mr. Trump said at a White House presser with Swedish Prime Minister Stefan Löfven. Hes also threatened tariffs on European cars.
Since White House aide Gary Cohn soon wont be around the White House to explain how unconnected to reality this is, well try. It is not almost impossible for American companies to do business in Europe. The bilateral trading relationship between the U.S. and the combined EU states is the largest in the world. In 2016 American companies sold goods worth $270 billion in the EU and services worth $231 billion. America has a bilateral trade deficit in goods with the EU$147 billion in 2016but a services surplus of $55 billion.
(Excerpt) Read more at wsj.com ...
And fireworks.
If Washington still wants to do something about immigration, we propose a five-word constitutional amendment: There shall be open borders.Aside from not acknowledging that the EU (and especially the country that leads it, Germany) has been engaged in their own tariffs to protect their single market, the opinion of the globalist WSJ is long tainted with communism.
WSJ Editorial Board, 1984
The Communists are further reproached for desiring to abolish countries and nationality.
Communist Manifesto, Chapter II, 1848
[I]n general, the protective system of our day is conservative, while the free trade system is destructive. It breaks up old nationalities and pushes the antagonism of the proletariat and the bourgeoisie to the extreme point. In a word, the free trade system hastens the social revolution. It is in this revolutionary sense alone, gentlemen, that I vote in favor of free trade.
Karl Marx, On The Question of Free Trade, 1848
Yeah...not selling out control of your country’s markets and best interests is shooting yourself in the foot! Sad thing is most people believe this crap!
We have a healthy steel and aluminum industry, 82 million tons of steel and somewhat less aluminum produced last year.
Tell the euro-weenies in the UK for example that their American Bourbon (which they've become QUITE fond of ....) is going to cost more TO THEM and watch what happens.
Far as I'm concerned, it'll just be more for me to drink here in the States and the price will come down a bit. Win-Win for me.
No talking just attack ,what a bunch Commies
idiots, we are already in a trade war, a trade war with the rest of the word and we are getting our heads handed to us.
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Exactly.
They are imposing retaliatory tariffs as if they are innocent victims standing up for themselves. How would this move be any different than a move mad by economic schemers who have absolutely no interest in America’s best interests? As if underselling and dumping and other malicious trade practices never happened.
The US needs strong steel and aluminum industries, and we also need to be able produce all the computer chips and electronic systems needed by our defense industries.
It’s just a theory that all those supposed negatives would result from tariffs on imported steel and aluminum. Companies and industries adjust and look for savings elsewhere to keep their prices competitive.
This is mostly a lot of globalists using scare tactics to try and preserve the status quo.
Amen
“We have a healthy steel and aluminum industry, 82 million tons of steel and somewhat less aluminum produced last year.”
During WWII we produced 733 million tons of steel. I’m not saying we couldn’t ramp up, but we have a lot more people now (thus consumption is more) and we produce significantly less.
We are the largest consumer economy on the planet..
UK’s GDP per capita is less than Alabamas....
I am not worried about the EU
Trump knows what he’s doing.
In a pure sense you are right, however, state-subsidized materials being “dumped” in the US market below market prices to eliminate domestic producers, also raises prices when the purpose of the dumping achieves its goals.
We are already “taxed” by Europe when we export. Globalists seem OK with that.
The European Union was created for one reason only , TO PROTECT THEIR STUFF ,LOL
What is in process is a fantastic game. Every politico gets to play according to his own rules that are to his greatest benefit. All the hoopla is game playing for constituent consumption. The actual negotiations at the the table will be different.
Trump will have a list of the most onerous tariffs as compiled by the CEO’s he has been meeting. The EU will be presented with a list of new proposed American tariffs on specific EU exports.
Trump will then make an offer the EU does not dare refuse. Lift the tariffs or the US tariffs will be imposed.
“Targeting politics red states by foreign governments? Isnt that meddling in U.S. political elections?”
This is not very smart on the part of the EU. In fact it’s dumb as hell and shows why the EU is hated, even in EU countries.
This action will steel the resolve of the nationalist right and make so that severe and strident retaliation by the US President is the only option.
It will not be possible to wind this thing down after/if the EU targets iconic American Brands.
They better hope they’re ready to lose the trade war.
Well, we can always downsize our military presence and put a couple of bases in Poland in case the EU wants to close bases as retaliation.
Is there an expert on the value added tax in the house? I understand the EU assesses the VAT on all imports into the EU.
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