EU Imposing Tariff on American Products

[Orgasmo]

How will 4D chessmaster respond now that he picked a fight with everyone?

The European Union will launch a raft of retaliatory tariffs against US exports on Friday, a top official has said. The move comes after US President Donald Trump imposed steep duties on steel and aluminium earlier this month. American exports such as blue jeans, motorbikes and bourbon whiskey will be targeted, trade commissioner Cecilia Malmstrom confirmed.

However, she said the bloc "did not want to be in this position".

"The unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice," she said.

https://www.bbc.com/news/business-44549712

 

[cincymma79]

Trump needs to bring the EU down crumbling to its knees

How will we ever live without shitty cheap furniture and meatballs

 

[Orgasmo]

Trump needs to bring the EU down crumbling to its knees

Yeah just like he needs to bring Canada, Mexico and China to their knees too. Pro-tip: Fighting everyone at the same time is a bad idea.

 

[bushman505]

 

[Quipling]

Trump needs to bring the EU down crumbling to its knees

Who were you?

 

[A_bomb47]

Hopefully they will outright ban American cars. We don't need any of that garbage here.

 

[AlexDB9]

Hopefully they will outright ban American cars. We don't need any of that garbage here.

There's only two things I can't stand in this world. Those who are intolerant of other people's cultures... and the Dutch

 

[D3thr0n3d K1ng]

What did Trump expect was gonna happen?

Now that everyone else has responded in kind what exactly did those tariffs gain?

 

[VivaRevolution]

How will 4D chessmaster respond now that he picked a fight with everyone?



https://www.bbc.com/news/business-44549712

With tariffs would be my guess.

 

[V Belfort]

Only way for the EU to hurt the US woud be to go after Capital management firms.

 

[JonesBones]

Germany has already backed down and wants the European tariffs on American cars gone to prevent this. Trump won this one.

BERLIN: Germany’s leading auto makers have thrown their support behind the abolition of all import tariffs for cars between the European Union and the U.S. in an effort to find a peaceful solution to the brewing trade war.

The U.S. ambassador to Germany, Richard Grenell, brought the proposal for a broader industry trade pact to the Trump administration on Wednesday, according to people familiar with the situation.


That would mean scrapping the EU’s 10% tax on auto imports from the U.S. and other countries and the 2.5% duty on auto imports in the U.S. As a prerequisite, the Europeans want President Donald Trump’s threat of imposing a 25% border tax on European auto imports off the table.

Read more at https://www.thestar.com.my/business...eu-us-car-import-tariffs/#r3j0M4QICLAswGYI.99

Europe sells more cars to us than we do to them. Germany just got a wake up call. We are winning this "trade war". Chinese markets are worse than ours and we can hold out longer.

 

[JonesBones]

Hopefully they will outright ban American cars. We don't need any of that garbage here.

No, see, they are doing the opposite. They are scared shitless and want tariffs on American cars removed or else retaliatory tariffs would hurt their business here. Try again. Europe and China have more to lose than we do.

 

[Neph]

Dow Jones wipes out all of 2018 gains as trade tensions rattle the markets

http://mobile.abc.net.au/news/2018-06-20/market-wrap-june-20/9887156?pfmredir=sm

 

[JonesBones]

Dow Jones wipes out all of 2018 gains as trade tensions rattle the markets

http://mobile.abc.net.au/news/2018-06-20/market-wrap-june-20/9887156?pfmredir=sm

Dow Jones is ancient. The Nasdaq is doing fine. Also the S and P is up from the dip in February. This trade thing hasn't made it lose all gains. It is up since early Feb. Dow is the least relevant index and the index most hurt by this.

DOW is for old people. Seriously. It is a new era. Facebook. Apple. Twitter. Amazon. Doing great. Amazon just hit all time high. As did Google. As did Facebook. As did Netflix.

 

[JonesBones]

Facebook, Alphabet, Amazon and Netflix, the “FAANG stocks,” soared to new highs Wednesday, taking the Nasdaq Composite to a new high as well, all despite fears over a trade war between the US and China.

Facebook Inc. (FB.O) topped $200 for the first time and posted a record high of $203.35.

Google/Alphabet Inc. (GOOGL.O) was up 1.9 percent to $1,201.49, breaking its previous record set in January.

Amazon.com Inc. (AMZN.O) racked up an all-time high for the third time in a row, up 1.6 percent to $1,762.93.

Netflix Inc. (NFLX.O), which has soared almost 120 percent this year, soared to $419.17 after hitting $400 for the first time in Tuesday trading.

https://www.wraltechwire.com/2018/06/20/faang-stocks-hit-record-highs/

 

[JonesBones]

What did Trump expect was gonna happen?

Now that everyone else has responded in kind what exactly did those tariffs gain?

They gained German automakers choking on their lunch and panicking. This is the one part of business that Trump is good at. He threatened tariffs and now got already existing tariffs on American products about to go away. Reminds me of the Cuban Missile Crisis where Russia got the US to remove missiles from Turkey by threatening missiles in Cuba. Russia won the Cuban Missile Crisis.

 

[V-2]

Trump needs to bring the EU down crumbling to its knees

There's a good chance that happens in the near future without any prompting at all from the US, which essentially constructed the bloc to manage Europe's affairs. US don't give a fuck no mo and that continent couldn't seem to stop cannibalizing itself prior to 1945; makes the smug attitude pretty comical. How's it been exporting your way back to affluence for the last 70+ years while having your physical security largely subsidized by the US taxpayer? Pretty damn good.

 

[Prutfis]

Germany has already backed down and wants the European tariffs on American cars gone to prevent this. Trump won this one.

BERLIN: Germany’s leading auto makers have thrown their support behind the abolition of all import tariffs for cars between the European Union and the U.S. in an effort to find a peaceful solution to the brewing trade war.

The U.S. ambassador to Germany, Richard Grenell, brought the proposal for a broader industry trade pact to the Trump administration on Wednesday, according to people familiar with the situation.


That would mean scrapping the EU’s 10% tax on auto imports from the U.S. and other countries and the 2.5% duty on auto imports in the U.S. As a prerequisite, the Europeans want President Donald Trump’s threat of imposing a 25% border tax on European auto imports off the table.

Read more at https://www.thestar.com.my/business...eu-us-car-import-tariffs/#r3j0M4QICLAswGYI.99

Europe sells more cars to us than we do to them. Germany just got a wake up call. We are winning this "trade war". Chinese markets are worse than ours and we can hold out longer.

Well that was expected. There are almost no american cars sold in Germany, while there are lots of German cars sold in the US. Removing tariffs is not going to do much for the sales.

 

[snakedafunky]

Germany has already backed down and wants the European tariffs on American cars gone to prevent this. Trump won this one.

BERLIN: Germany’s leading auto makers have thrown their support behind the abolition of all import tariffs for cars between the European Union and the U.S. in an effort to find a peaceful solution to the brewing trade war.

The U.S. ambassador to Germany, Richard Grenell, brought the proposal for a broader industry trade pact to the Trump administration on Wednesday, according to people familiar with the situation.


That would mean scrapping the EU’s 10% tax on auto imports from the U.S. and other countries and the 2.5% duty on auto imports in the U.S. As a prerequisite, the Europeans want President Donald Trump’s threat of imposing a 25% border tax on European auto imports off the table.

Read more at https://www.thestar.com.my/business...eu-us-car-import-tariffs/#r3j0M4QICLAswGYI.99

Europe sells more cars to us than we do to them. Germany just got a wake up call. We are winning this "trade war". Chinese markets are worse than ours and we can hold out longer.

German carmakers have actually anticipated this. Exports from outside the US are down by 25% from 2013. While they heavily invested within the US. The big winner now is Germany because Trump got the Chinese to drop their car import tariffs. Obviously, it would make more sense to have a US/EU alliance on this. But that's not something the US wants. Because they don't want to be in an equal trade relationship with Germany. Because they would lose.

The US can't win a trade war with Germany because we don't have to ''fight'' against a comprehensive US strategy to compete. We just to wait out Trump. This is not something that is going to make the US more competitive in the future. There are no training programs, investment in infrastructure or efforts to modernize your manufacturing sector.
Something Germany has been working on for the last 150 years. Regardless of what Party is in the power. The well being of the manufacturing industry has a general strategy that is above politics. And set up with a plan for the next decades. Not based on being more competitive due to tariffs.
That's why you see Merkel not saying anything about retaliation tariffs. They might hurt Germany a bit in the short term. But there is not long-term strategy behind it that would threaten German competitiveness.

 

[tkotom]

Yeah just like he needs to bring Canada, Mexico and China to their knees too. Pro-tip: Fighting everyone at the same time is a bad idea.

Getting raped by every country at once is already a bad idea.