EU Trade Commissioner Gives Ground: We’re Willing To Drop Auto Tariffs To Zero

Discussion in 'Europe' started by The Purge, Aug 30, 2018.

  1. The Purge
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    The Purge Gold Member

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    President Trump’s hard line on tariffs has won a significant concession from the European Union, at least the promise of one. Trump has been warning all summer that he could add a tariff on automobile imports which would have a significant impact on automakers in Europe (as well as Japan and Mexico). Today the European Union Trade Commissioner Cecilia Malmstrom said the EU was willing to drop all of its existing tariffs on cars and other goods to zero if the U.S. would do the same in return. From the NY Times:

    President Trump’s threat to impose auto tariffs on imported cars has hit America’s trading partners in a sensitive spot, sending foreign leaders from Mexico to Japan racing to the negotiating table and, on Thursday, encouraging a significant concession by Europe…

    Europe is willing to reduce “car tariffs to zero, all tariffs to zero, if the U.S. does the same,” Cecilia Malmstrom, the European commissioner for trade, told members of the European Parliament on Thursday. “We would do it, if they do it. That remains to be seen.”

    Europe’s change in position is the latest indication that Mr. Trump’s threat to impose 25 percent levies on foreign-made Toyotas, Mercedeses and BMWs is forcing trading partners to give ground. Europe had previously expressed a willingness to eliminate tariffs on industrial goods, but excluded cars, and said any deal had to be part of a broad free-trade agreement…

    Mexico, Canada and Europe initially insisted that they would not negotiate about trade “with a gun to the head.” But existing tariffs on steel and aluminum, and the specter of tariffs on automobiles, helped change their minds.

    (Excerpt) Read more at hotair.com ...

    This is how it is done in the Business world and Trump is playing the game in a way that Politicians may not like but ultimately the folks impacted, other business owners get it

    This is one of the key elements of success for Donald Trump, he is not a politician but has dealt with them for decades and knows how they think

    Ergo, he is the best qualified individual for president in my opinion that has ever occupied the office

    Period!

    MAGA, Keep on Winning, not even close to getting tired yet!

    And the Libs and Progressives do their part, they keep on Whining!!
     
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  2. cnm
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    cnm Diamond Member

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    That's hilarious. It's like Trump boasting about his North Korea deal. It's put out to be grazed on by Trump swallowers. Like the North Korea announcement it doesn't actually mean anything. US and EU trade weighted tariffs levels are very similar anyway.
     
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  3. theHawk
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    theHawk Registered Conservative

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    The EU, Germany in particular, are terrified of the US putting tariffs on their autos.

    EU made cars represent over 25% of the vehicles in the US. US cars only make up 15% in the EU.

    They can’t afford a trade war, they have much more to lose, which is why they are already surrendering to President Trump’s demands that EU tariffs be dropped.
     
  4. theHawk
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    theHawk Registered Conservative

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    So when the EU trade commissioner comes out and says they are willing to drop tariffs, you liken this to the North Korea regime? Pretty lame arguement.

    Current US and EU tariffs are not similar in any way. The EU has huge tariffs on US goods, including auto.

    If they are the same, why is the EU commissioner saying they will drop them to zero if the US will do the same?
     
  5. cnm
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    cnm Diamond Member

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    Because trade weighted tariff levels between the US and the EU will remain pretty similar at zero. Ffs.
     
  6. cnm
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    cnm Diamond Member

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    No, to Trump's North Korean deal, where much is said and little is done. Same same.
     
  7. cnm
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    cnm Diamond Member

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