Posted on 07/01/2018 2:57:55 PM PDT by Olog-hai
US president Donald Trumps threat to hit car imports with punitive tariffs risks sparking global retaliation against as much as $300 billion of US products, Brussels has warned.
The warning is the first time that the European Commission, in a written submission to the US Department of Commerce seen by the Financial Times, has set out a detailed response to Mr. Trumps threat to slam punitive tariffs on imported vehicles, with EU capitals increasingly convinced that the unpredictable US president will act soon.
Mr. Trump on Sunday said that the EU was as bad as China when it came to the way European countries traded with the US. In an interview with Fox News, he dismissed suggestions that his attacks on the EU were counterproductive and that he should instead strengthen relations with European countries to tackle the Chinese trade issue together.
The European Union is possibly as bad as China, just smaller It is terrible what they do to us, Mr. Trump said, citing the car situation.
Brussels said that an American investigation into whether foreign cars and parts posed a national security risk could plunge the global economy into a full-on trade war, harming employment in the US car sector, which accounts for more than four million jobs.
(Excerpt) Read more at irishtimes.com ...
Keep your stinking BMWs...
Trump will win...EU will lose and come begging...again
Oh yes we can, and if we want our country back, we should be prepared to do so. The world has been living off of America like a Remora on a shark's side ever since WWII. Time for it to be over. We have a Corvette and a BMW that are the same age. The insurance on the BMW is half again as much as the Vette because of the cost of repairs. German cars are no bargain! Repair parts are ridiculous.
Its not all about you.
Of course we can. Pulling our troops from Germany would be disastrous for them. The rumor of an assessment being made was a shot across the bow.
WE sure can! It’s not the whole world just the greedy ones.
LOLOLOLOLOLOLOL
Yes!
Don’t mess with the EU Mr. President. They formed their union to attack the US Dollar and boy have we paid the price. /s
Remember EU, in the game of Risk you go down first.
Sure we can. We can kick the shit out of the whole world. Weve been carrying them on our backs for 70 years.
Who writes this crap? Tariffs on $300 billion do not “cost” $300 billion. That would assume that the exports were 100% profit and that the exports would completely cease.
“The $300 billion figure identified by the EU is roughly equivalent to the value of US imports of cars and parts, which last year hit $330 billion”
Yet we only exported $53.6 billion of autos last year (down by 6.5% from the previous year) compared to Germany who exported $157.4 billion and Japan exported $93.4 billion in autos. Global exports for all the world including US was $740 billion. The USA is by far the largest importer of cars. We have been losing the trade war, but now we have a chance to start winning.
You’re running a $150 billion surplus morons. You’re going to get hurt worse in any trade war.
That’s what they want most, so that’s not a card to play. Never give an entity like that what it wants most. They don’t play the rule-by-crisis game in a wanton fashion, though it looks somewhat like that.
Fine. Just pull the troops.
Giving them what they want most? The EU is chomping at the bit to find an excuse to build its own military, and therefore giving them the space to do that is the last thing they deserve.
Perhaps a move to Poland would be better. Won’t untie the EU’s hands in the way they’re eyeing.
I know Trump’s reviewing the costs thereof, but in the context of the NATO agreement.
As Trump has repeatedly indicated, we have already had a trade war and we lost. This is our first attempt at fighting back. In short, any actions against us is not retaliation... it is an attempt to keep us down.
Everyone knows that and most everyone agrees that free trade is a good thing including Trump, as long as it not fake free trade. We've been in a trade war for a long time and have lost our core manufacturing base to it. Everyone loses during any war, but the USA is well positioned to put a stop to the unfair trade practices. That is what Trump is trying to accomplish. By the way Trump has a degree in economics from the Wharton business school.
Or not
When was the last time a US President went to bat for US automakers??
Trump is a genius. He just suckered punched the EU in the nose and won over all the autoworker votes.
I smell a mid term rout.
“Warns.”
Okay.
If I want a Mercedes 300 C class I’ll spend the extra $600.
Or not.
5.56mm
All these headlines with “warn(s)” in them. Next it’ll be “threaten(s)”.
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