Posted on 02/02/2025 5:05:29 PM PST by MinorityRepublican
The EU has warned Donald Trump it is ready to retaliate against “hurtful” tariffs as the US president kick-started a global trade war.
European leaders including Olaf Scholz, the German chancellor, warned that the EU had “its own courses of action” after the new president said the bloc had treated the US “terribly” and would be next in line for tariffs after Canada, China and Mexico.
It comes as Sir Keir Starmer is set to be the UK’s first Prime Minister to attend an EU summit since Brexit, when he travels to Brussels on Monday as part of a “reset” in relations.
The Telegraph understands Sir Keir is ready to make a series of concessions in order to build closer ties with Brussels, including joining an EU-led trade pact and a revamped visa scheme for young Europeans to live and study in the UK.
Sir Keir is also understood to be aligning the UK’s emission policy with the EU in a move which analysts say risks driving up prices.
However, opposition leaders warned the Prime Minister against aligning the UK too closely with the EU at the expense of his relationship with Mr Trump.
Andrew Griffith, the shadow business secretary, said Sir Keir “should be diverting his plane” from Brussels to Washington DC to prioritise reaching a trade deal with the US.
It comes after Mr Trump announced a 25 per cent levy on goods coming from Mexico and Canada, and a 10 per cent trade tax on Chinese goods, insisting that his trade war would be worth the “pain” to create a “golden age of America”.
Both Canada and Mexico vowed to hit back with levies on US goods, while China threatened to take the US to court and hinted at further retaliation.
(Excerpt) Read more at telegraph.co.uk ...
love good comedy!
How much do we import from the European Union?
cut off all Aid and use it in America.
I’ll bet Trump never saw that coming. /s
We broke European countries can really hurt you Americans financially !
If I must pay $10.00 for a dozen eggs I will gladly do so to poke Marxists, socialists, anarchists, and globalists in the patootie.
In other words, Mr. Starmer wants to pretend Brexit never happened and just undo it. How dare the rubes vote against the interests of the elites.
I’m willing to drink a lot of California wine and Florida orange juice.
Other than chocolate, I struggle to think of anything I would buy that is made in Europe.
Mercedes and Volkswagens.
I don’t think *anyone* likes Brit cars.
Too few Rolls Royces to matter: the demand for them is price-inelastic anyway.
The art of chess is planning the tree of possible moves you make depending on the move of your opponent. The problem comes for an actual chess game in the number of possible moves making the tree too big to actually walk. Alpha-beta pruning.
Trump is a Grand Master. He and his economic/financial experts have been walking the tree of moves and countermoves for a long time. He’s guessing what they’ll do and he knows how he’ll react to each possibility. There aren’t as many possibilities here as in a real chess game. He’s undoubtedly got a much smaller tree to walk and will have all his strategies in place no matter what the other countries do. I do believe he has this.
The bottom line is that foreigners have a lot more to lose than we Americans do.
Trump is a fighter.
His Trump card is NATO and the war in Ukraine.
Well, now because of the war and sanctions they are getting very little from Russia. And they have to buy our expensive LNG.
California wine is better and cheaper, we make good olive oil and cheese.
Sooooo there’s really kinda a hard limit on how much they can retaliate against us.
We could also pull more troops home instead of stationing them there.
>>His Trump card is NATO and the war in Ukraine.
Excellent point! And he’s already made everyone nervous by making it clear he could get out of both. So, to stay in, he needs to be begged. Or, one might say, bribed by capitulating to the policies he wants and then he MIGHT be willing to give them some of what they want. He’s already set the board and played white.
But your new Audi or BMW will be so much more expensive!
And THAT costs them money. No GI income, loss of base jobs.
About $0.7T import and $0.6T export.
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