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CNBC: Trade war headlines could get much worse before they get better as the US looks to Europe
* U.S.-China trade talks are set for next week, amid new uncertainty about progress in the talks.
* At the same time, the clock is ticking on a Feb. 17 report from the Commerce Department, which could recommend auto tariffs on European cars.
* Strategist say the Trump administration has 90 days to act on the auto tariffs, and is likely to slap a 25 percent tariff on European autos, after it has resolved talks with China.
With little apparent progress in U.S.-China trade talks, the Trump administration could be about to open up a new front in the trade wars by taking on the European auto industry — and that could spook markets.
U.S. negotiators head to China next week, and while there are few signs any kind of deal is near, many strategists expect to see some signs that talks will continue and an eventual agreement will be reached, even if a March 1 deadline on new tariffs is pushed back.
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Update: Gird Your Loins: Wall Street Fears Trump’s Trade War Is About to Get Worse (Vanity Fair)
WNU Editor: These massive trade imbalances should have been address years ago. As to what will happen next. The EU is not going to budge .... or more to the point .... the country that is benefiting the most is Germany, and they are the ones who are not going to budge. This is going to get messy, because U.S. tariffs are going to hurt everyone (and vice versa).
4 comments:
Why are our European leaders hellbent to do business with Russia (!) and at the same time stab or American brothers in the back? What the f*** is going on? Merkel is so freaking pro-Putin and there is this coordinated attack of the media to make Trump look like a putin buddy but all the evidence points to the Democrat party and left wing media to be infiltrated by Russia. Think about it. .all the divisiveness to bring down the one guy (Trump) who takes on China and who actually tries to strangle Russia (by now having made US biggest exporter of oil and energy independent for the first time in 60 years or so)... Trump is one of the mouse effective presidents ever from my European point of view, but our leaders choose to side with China and Russia all the fing time I'm so sick of it. This is not in our interest. Russia and China are not our friends but are breaking up the European/US alliance. Think of it. ..we Europeans basically started the US..many of us have relatives there. .what the f*ck is Merkel thinking to constantly side with Russia? Why is cnn promoting socialist agendas, race and class division among Americans? Why do Democrats try to get rid of Trump so badly despite his record making successes from bolstering NATO by 100bn (which Russia must hate! ) to arms deals with Saudi Arabia for 150bn (which again Russia and China, the only countries capable of filling such a large order instead of the US,must hate and remember how the left media tried to talk Trump into dropping the deal which would have only benefited Russia and China!)..the list is endless. My guess is that Trump, one of the most American persons ever, is not the mole but that we have people in the media - from CNN's CEO Zucker to prominent Democrat figures have been actually brought under control by Russia and China. Some by legal means - which we know off, if you look at the lobbying all over the US done by china and Russia, and we know there's tens of thousands of spies and influencers from China and Russia in the US. What better place than to put them into media, education and politics to slowly but steadily divide and soften the US (walls are immoral etc toxic masculinity ..white privilige... those deeply divisive, racist terms are class warfare, sex warfare, race warfare tools. .all pushed by the left)
Here’s a question for you. Are the USA and Germany allies anymore or are they friendly non aligned nations?
I ask because they don’t act like allies. Germany could have easily reduced trade friction with the USA by signing major long term contracts for USA LNG as well as invested in USA LNG export terminals. They could have encouraged the EU as a whole to buy US LNG. They did neither and instead are spending billions of euros with Russia and making it possible for Russia to sell to all the EU over the next few decades.
The Germans have a crisis with their military aviation being old and broken down. They want 90 new fighter bombers and could have bought the F-35. They have refused because they want to appease France. Again this would help address trade imbalance with the USA as those jets would cost some $10 billion to start and many billions over the life of the program,
Germany acts with contempt to the USA based upon its current demeanor so I can’t be surprised when Trump retaliates. Autos is just one avenue open to Trump another are the thousands of USA troops spending billions in the Germany economy. Given Germany’s ongoing contempt for its NATO obligation why keep troops on German soil as an added argument,
The problem is the media in Europe is so anti Trump.. not as bad as CNN but close. I believe we are living through a coordinated attack to separate Europe from America and it happens all under the justification that Trump is so bad and many in Europe's left media are generally against the US. You can compare them to your alexandria orcasio cortez, maxine waters and other low iq people in that party ... nonsensical Programms that no one can afford and they always try to sew a lot of divisiveness to divide men and women, and divide among race lines.. our left does what your left does. .Doing the oil deal is only in Russia's interest and Merkel should be ashamed to keep backing Putin like this.. this was a major major deal and historic.. but CNN loves her. Figures.
This is a basic issue; a strong Importer Nation like the US can dictate terms; this should have been done years ago but our Politicians weighed that we needed to counter Russia, China not so much.
Now, life if going to get interesting, but Free nations will avoid war thus I suspect all this will blow over. Thanks to Trump, the US has a backbone now to make some of this right. MAGA!!
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