Article

2018-07-25 Europe

German foreign minister: Europe will not bow to Trump threats

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2018-07-25 00:22|| || Front Page|| [8 views ] Top

#1 It's not lose-lose. America is so far disadvantaged that any disruption to the status quo is an improvement.

If Trump tariffs their autos they are so screwed. I love my president so much.

Posted by Herb McCoy 2018-07-25 01:12|| 2018-07-25 01:12|| Front Page Top

#2 Big boys. You can defend yourselves. You want to be equal, then take full responsibility for your own house and leave us out of it.

Posted by Procopius2k 2018-07-25 03:14|| 2018-07-25 03:14|| Front Page Top

#3 The EUSSR is the MOST protectionist customs cartel in the world.

It's up to them to lower tariffs.

As rents in the countries are reasonably comparable the tariffs could be reduced to zero.

Posted by Bright Pebbles 2018-07-25 04:07|| 2018-07-25 04:07|| Front Page Top

#4 A few facts

1) The European Union and the United States have the largest bilateral trade and investment relationship in the world worth roughly $1.06 trillion)per year and growing. The trade created 6.9 million jobs in the U.S.

2) More than 70 percent of all foreign direct investment into the United States comes from the European Union. This number has doubled over the last 15 years.

3) U.S. companies earn more than twice as much exporting goods to the EU as they do exporting to China - $295.91 billion compared to $135.78 billion in 2017.

3) U.S. companies earn some $106 billion more in corporate profits in the EU than EU companies do in the U.S. When these corporate profits are added to the U.S. trade balance, Washington has no trade deficit with the EU.

4) Some 2.4 million European cars are made in the U.S. every year. Some 60 percent of German cars made in the U.S. are exported abroad. The BMW Spartenburg plant in South Carolina is the biggest BMW factory in the world, employing 10,000 people and exporting out of the U.S. 70 percent of what it makes. Some 70,000 U.S. workers depend on jobs linked to the BMW group.

%) Car tariffs: US 2.5%, EU 10% BUT due outward processing (EU cars parts shipped to the US for assembly) a very large portion of US car imports into the EU is actually subject to a much lower import duty. In 2017, only 1 billion euros out of the total value of US cars imports to the EU of EU 6.5 billion was subject to the full tariff.

Posted by European Conservative 2018-07-25 06:12|| 2018-07-25 06:12|| Front Page Top

#5 A concise and useful summary, European Conservative. Thank you.

Posted by trailing wife 2018-07-25 06:59|| 2018-07-25 06:59|| Front Page Top

#6 >More than 70 percent of all foreign direct investment into the United States comes from the European Union.

How much of that comes from the country that's Brexiting?

Posted by Bright Pebbles 2018-07-25 07:05|| 2018-07-25 07:05|| Front Page Top

#7 More than 70 percent of all foreign direct investment into the United States comes from the European Union.

Its' called capital flight. They can't get good RoI in Europe so they "bank"* their money in the US. Throw in the still though old respect of property (not likely to be found in most of the rest of the world) and 'where else are they going to go?'.

colloquialism - to park or to store

Posted by Procopius2k 2018-07-25 07:16|| 2018-07-25 07:16|| Front Page Top

#8 I'd just like to make the case that a trade war is absurd and will only hurt both sides.

Abolishing tariffs wouldn't be such a difficult thing but carefully check your own tariffs first. Tariffs aren't that big an issue. Regulations are more complicated. Just think how long it took (and takes) the EU to "harmonize" regulations within the EU.

Some regulation serve as a clandestine trade barrier but once again, both sides do it.

Trump thinks he just has to threaten exorbitant tariffs and everybody comes to negotiate. It doesn't work this way and he's actually stabilizing the EU.

I don't like tariffs at all because they are easily introduced and so hard to abolish. Retaliatory tariffs introduced by the EU generate money for the EU. Brussels may come to like the new income. WE pay.

Posted by European Conservative 2018-07-25 10:20|| 2018-07-25 10:20|| Front Page Top

#9 Always appreciate your point of view, EC.

Unfortunately, some in the U.S. are tired of the 'status quo' and are willing to upset the apple cart (so to speak) to try to get a better deal.

Admittedly, Trump's approach is more 'brute force' than subtle. I say, give him six months.

Posted by Bobby 2018-07-25 11:00|| 2018-07-25 11:00|| Front Page Top

#10 >"harmonize" regulations within the EU.

Every country seems to get the worst set of regulations...

Be much better off bi-lateral trade deals and international trade standards, with the "comply or explain (clearly on packaging)" methodology.

Posted by Bright Pebbles 2018-07-25 11:27|| 2018-07-25 11:27|| Front Page Top

#11 Europe will not bow to Trump threats

Is that right?

Posted by g(r)omgoru 2018-07-25 13:51|| 2018-07-25 13:51|| Front Page Top

#12 @Bobby

I think Trump's heavy-handed policy will fail. Here's why:

Like Trump, the British have tried to divide the EU. And like the U.S. they also have considerable economic potential.

Nevertheless, the EU has remained remarkably united in the negotiations. British Brexit hardliners now speak of national humiliation in this context, and with good reason. Their hope that the economy - above all the German car industry - will force the EU to soften its hard line has been shattered. The reason is simple: the cohesion of the EU's single market is much more important to the economy in the long term than enabling the British to enjoy a pleasant Brexit. To this end, EU-27 industry and governments are prepared to accept short-term losses if necessary.

The situation is similar in the dispute with the USA: rule-based global trade will in the long term be much more important for Europe than US tariffs.

Posted by European Conservative 2018-07-25 14:38|| 2018-07-25 14:38|| Front Page Top

#13 FUCK EUROPE.

These assholes have been nonstop protesting demanding we get the fuck out forever. What's wrong with giving them what they want?

They want a life independent of us, where they are not dragged into our wars like Afghanistan. Let's give it to them.

Europe profits to the tune of $150 billion *every goddamned year* because of our stupidity. The horrible Iran deal was $120 billion once. The wall is $25 billion once. Free university for every American is $60 billion every year. Do you begin to understand just how bad the deal is with Europe?

Why are we bribing "allies" to be on our side? Fuck them. Spend the money on ourselves instead.

When every apple is rotten, what do we lose by upsetting the apple cart?

Posted by Herb McCoy 2018-07-25 14:40|| 2018-07-25 14:40|| Front Page Top

#14 Nevertheless, the EU has remained remarkably united in the negotiations

Uh huh. Like Hungary, Italy, German opposition on Immigrants?

Posted by Frank G 2018-07-25 14:41|| 2018-07-25 14:41|| Front Page Top

#15 EC is getting delusional.

Tmay is just negotiating very badly because she's the establishment remainiac picked for the role after they nobbled Andrea Leadsom.

Posted by Bright Pebbles 2018-07-25 15:00|| 2018-07-25 15:00|| Front Page Top

#16 Poor EU , they don't have money for self-defense or for fair trade, but plenty of money for funding "human rights" groups - attempting to subvert other democracies, or outright terrorists like "Palestinians".

Posted by g(r)omgoru 2018-07-25 15:10|| 2018-07-25 15:10|| Front Page Top

#17 The U.S. has a trade surplus with Canada or Brazil.
Fair?

Posted by European Conservative 2018-07-25 15:18|| 2018-07-25 15:18|| Front Page Top

#18 The EUSSR has a trade surplus with the UK

Posted by Bright Pebbles 2018-07-25 15:59|| 2018-07-25 15:59|| Front Page Top

#19 "I think Trump's heavy-handed policy will fail."...

Trump, Juncker Announce Deal Pulling Back From U.S.-EU Trade War

Posted by Bright Pebbles 2018-07-25 17:14|| 2018-07-25 17:14|| Front Page Top

#20 ON NON-AUTO INDUSTRIAL GOODs.
So the EU, still, will not even talk autos or food or resources?

Posted by 3dc 2018-07-25 17:52|| 2018-07-25 17:52|| Front Page Top

#21 Trump's approach reminds me of the joke:

t seems a farmer was complaining to a friend about the trouble he was having in getting his stubborn mule to move. After listening to the farmer's complaint, the friend said he knew just what to do.

"Get a two-by-four and whack the mule across the head with all your might," advised the friend. The farmer was taken aback. "But how will that get him to move?" asked the farmer. "Well, you see," the friend said, "first you've got to get his attention!"

He's getting their attention.

Posted by AlanC 2018-07-25 19:55|| 2018-07-25 19:55|| Front Page Top

#22 Grom points out the real existential threat —-
Shortages of beer bottles and CO2.

Call Air Liquide, stat!

Posted by Alaska Paul 2018-07-25 22:11|| 2018-07-25 22:11|| Front Page Top

23:56 JohnQC
23:55 JohnQC
23:48 JohnQC
22:43 49 Pan
22:37 newc
22:36 newc
22:11 Alaska Paul
21:46 Alaska Paul
21:44 Alaska Paul
20:43 bbrewer126
20:39 trailing wife
20:30 Lumpy Turkeyneck8453
20:28 trailing wife
20:23 charger
20:22 charger
20:20 charger
20:19 Procopius2k
20:17 Procopius2k
19:59 Frank G
19:55 AlanC
19:55 ed in texas
19:53 Frank G
19:26 Skidmark
19:25 Skidmark