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. Trump’s trade irruptions could imperil American exporters and become a destructive spiral.
The EU is acting with some restraint—for now—in 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 can’t 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. He’s also threatened tariffs on European cars.
Since White House aide Gary Cohn soon won’t be around the White House to explain how unconnected to reality this is, we’ll 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 2016—but a services surplus of $55 billion.
(Excerpt) Read more at wsj.com ...
And the globalist idiocy at/of the Wall Street Journal continues......
Yep, he needs to have it shoved down his throat.
Tariffs will gain jobs by the millions!! We can hope for a trade war so we can WIN IT!! We are getting screwed to the tune of an $800 billion dollar trade deficit buying their crap. Our military cannot get needed supplies and weapons from the USA without buying steel from China!! That is insane. Trump keeps another promise that we voted for. God Bless this wonderful president. NO MORE FREE TRADE where they tax our products but we don’t tax theirs!! We need far more tarriffs and SOONER than later. WONDERFUL !!!
“The Globalists/Deep State know what they’re doing.”
No, they don’t.
The backlash will be severe and they’ll rue the day they ever heard of Jack Daniels, Harley and Levis.
Back when I was young the whole free trade thing made sense to me. Now I see decimated manufacturing towns where people are either junkies or unemployed long term, most of. Many of these people are unskilled and uneducated. They used to run a broom or shovel but won’t because the immigrants have kept the wages too low. What never transpired is the growth of other economies that were suppose to buy our goods.
Guess what people? I am college educated and in my industry I am seeing people not too far from my level being outsourced. Do not assume you are invaluable. Bean counters will sell you out in a heart beat.
I looked at at new Mercedes E350 yesterday. Guess I better buy it.
“As for me, I’d rather take the risk now, while we still have the ability to spool-up our near-dead, but proven industrial production superiority -— prices be damned.”
Me too.
This absolute best time for an existential war is when you still have a chance of winning.
This is mostly a lot of globalists using scare tactics to try and preserve the status quo.
I expect POTUS will grant temporary tariff wavers to Mexico and Canada while hitting the EU hard.
The real problem is the EU still listen to Democrats who of course seek to undermine Trump. They vastly underestimate POTUS. The EU will learn but it will take some time time to train them.
Excellent!!! It’s so clear to those of us who “get it”. I don’t know when Americans turned into such pansies. DJT is the only one with the stones to stand up to the WORLD...and he’s stands alone - unbowed, unapologetic, unwavering - with the GOP, the Dems, the media, academia and the progressives against him. He shows how the rest of the GOP are dithering cowards and total globalists.
No, they don’t.
The backlash will be severe and they’ll rue the day they ever heard of Jack Daniels, Harley and Levis.
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They have a concerted effort going. That it will backfire on them is another matter.
Great. Just stop sending that stuff to Europe It will mean more of us here in the United States can have a healthy breakfast before making our own bourbon to drink while we string the Christmas lights on our yachts...
For short term thinkers that may make sense -— nothing changes for the good without some sort of “growing pains”. The alternative is to let the world keep screwing us to their benefit and keep paying them the international corporate welfare.
And conservatives who formerly opposed boycotts are beginning to see that there are times when a boycott might be the most effective way to make a political statement. If the EU really begins to oppose Trump's policies, those who support the policies strongly might decide a boycott of EU products (and any other nation doing the same) might be an excellent way to further support the president and his MAGA policies.
“In the meantime, get rid of the CAUSE that cripples”
The EU assesses a 19% VAT on the import of all finished goods, and frees their own finished goods for the 19% standard VAT if it is exported.
Is this one of the causes you refer to above? Or, would you be OK with such a practice remaining without US steps to correct it?
Hands down, the most insightful, MOST logical argument on the thread.
MAGA!
This is an important point. Economists don't like this argument because they can't put a price tag on national security. It really fowls up their economic models. But a secure super power needs certain industries to be in place with people capable of running them and ramping them up should the need arise.
Yeah, you don’t try to “retaliate” against the world’s biggest economy... That will end badly.
That STILL leaves us $92 Billion in the hole, WSJ!
How is THAT a good thing for us/US?
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