Saturday, 17 November, 2018

President Trump: EU Possibly Bad as China on Trade, Just Smaller

Donald Trump Image Donald Trump believes the EU treats America 'very badly'
Orlando Vargas | 05 July, 2018, 12:00

The traditionally GOP-friendly organization, which represents more than 3 million businesses, has launched a campaign against Trump's tariffs, arguing that they have triggered a trade war that will cost U.S.jobs and will send consumer prices soaring.

Last month, U.S. President Donald Trump initiated a Department of Commerce investigation to determine the effect imports of vehicles and automotive parts have had on national security. It was not immediately clear what those concerns are. That figure would account for 19 percent of USA goods sold in the European Union in 2017.

The trade strains were compounded by an European Union threat to hit the United States with retaliatory tariffs, lingering concerns over President Donald Trump's dislike for the World Trade Organization, and by data showing the weakest euro zone manufacturing growth in 18 months.

In addition, higher tariffs on components imported to the United States would make other production locations outside the country more competitive, BMW pointed out.

Donald Trump's trade war and policies, in general, are now being attacked by the U.S. Chamber of Commerce.

U.S-CHINA TARIFFS: The U.S.is set to impose a 25 percent tariff on up to $50 billion of Chinese products starting this Friday. The EU, Mexico, Canada, Turkey and India introduced duties on USA products in return.

The EU regards national security arguments as nonsense: In its report, the European Commission warned the USA government that the move would be unacceptable.

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I just did 100-per cent effort every shot, every putt and still, you know, I like looking at the positive side. I don't think it was a really bad shot. "I still can't believe I'm sitting here, next to this trophy".


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The name was leaked by news website Axios , which had earlier reported that the USA president wanted to leave the WTO. China's Foreign Ministry did not immediately respond to a request for comment on Beijing's summit aims.


The group representing major foreign automakers, including Toyota, Volkswagen, BMW and Hyundai, the Association of Global Automakers said the tariffs would harm automakers and USA consumers.

Mr Trump is now mulling tariffs of up to 20% on all cars and vehicle parts made in the EU. Trump contends that tariffs encourage companies to source locally and "buy American", while opponents of the measures say that they threaten economies both local and global.

"Toyota shares the Administration's goals of increasing U.S.jobs, growing the economy and strengthening national security", the automaker said.

"I see us running into a full collision course in a few days", said Ashley Craig, a trade lawyer at Venable LLP.

The Association of Global Automakers, an industry group that represents worldwide automakers including Toyota, Volkswagen AG and BMW AG, said in a separate filing that "there is no support" for the idea that the import of vehicles and auto parts threaten the economic health of the US auto industry. This weekend, Ottawa imposed tariffs on U.S. goods worth around $12.6 billion.

On Monday, he threatened to take action against the World Trade Organisation after media reports said he wanted to withdraw from the global trade regulator. "With credit growth still cooling and USA tariffs imminent, we expect further weakness ahead", said Julian Evans-Pritchard, senior China economist at Capital Economics.

German 10-year bond yields dipped to five-week lows.The U.S. yield curve held near its flattest level in over a decade as investors preferred longer-dated U.S. government debt on worries about a global trade war.

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