U.S. to slap tariffs on steel, aluminum from EU on Thursday: sources

[mapuc]

I hope they will find a solution, will be a benefit for everyone.

When I read and heard about this tariffs on European steel and aluminum

I suddenly remembered an episode of a dramatization made from a war game.

In this episode a serious diplomatic crisis had arisen between USA and Europe.

Remember some scene from this episode.

French special forces are deployed in French Quebec. USA protest against this. Canada say they have the right.

Two F14A is intercepted by English and Danish fighter jets around Greenland. A sort of a dogfight happens-No fire have been fired, but one of the F14 is damage and they both return.

An American civil flight is refused to land on De Gaulle and other European airport.. it crash when it has no more fuel.

Don't think it will go so far.

Markus

Markus

[Jimbuna]

The escalating dispute could drive firms in Mexico, EU and Canada to buy steel and aluminum elsewhere and retaliate with targeted tariffs on US goods.

Once the retaliatory measures were put in place, the situation could backfire for Trump and end up hurting American producers.

[Bilge_Rat]

Originally Posted by Jimbuna

The escalating dispute could drive firms in Mexico, EU and Canada to buy steel and aluminum elsewhere and retaliate with targeted tariffs on US goods.

Once the retaliatory measures were put in place, the situation could backfire for Trump and end up hurting American producers.

if it lasts for years, yes.

but I view this just as a negotiating tactic that will get resolved in a matter of weeks. Trump wants to get concessions out of Canada and Mexico on NAFTA so he can claim victory and leverage that in the november mid-term election.

Again, this did not start with Trump. Ever since the original NAFTA was signed between Canada and the U.S. back in the late 80s, many american politicians felt the US gave away too much to Canada in the trade deal.

The canadian and U.S. economy are too closely integrated to be disentangled. Many Canadian politicians over the years have tried to push policies to lessen the dependence of Canada on the U.S., but it does not make economic sense.

[Gerald]

BRUSSELS (Reuters) - The European Union expects to hit U.S. imports with additional duties from July, ratcheting up a transatlantic trade conflict after Washington imposed its own tariffs on incoming EU steel and aluminum.

https://www.reuters.com/article/us-u...-idUSKCN1J2146

Probably only the beginning of the tariffs.

[Bilge_Rat]

ok...Trump explaining to PM Trudeau how he can justify imposing tariffs under a "national security" statute:

According to the sources, Trudeau pressed Trump on how he could justify the tariffs as a "national security" issue. In response, Trump quipped to Trudeau, "Didn't you guys burn down the White House?" referring to the War of 1812.

https://www.cnn.com/2018/06/06/polit...iff/index.html

[Platapus]

According to the sources, Trudeau pressed Trump on how he could justify the tariffs as a "national security" issue. In response, Trump quipped to Trudeau, "Didn't you guys burn down the White House?" referring to the War of 1812.

[Skybird]

EU fears that deliverers of stzeel and aluminium to the US now will redirect their dleiveries and flood the European market with them, poutting European prodcuers of both under pressure.

2.6 bn in retaliatory tarrifs will go live next month, with Brussel threatening to add another 3.6 bn in additonal tarrifs until 2021. What takes them so long?

Trumps second strike aims at European cars, which means he wants to take Germany out of the equation, so to speak - for Germany, a targetted strike at cars means the same like a targetted strike at US weapons, arms, IT and internet companies. Its the economical core domain. Germany struggling with its boom due to dropping car exports means economic and fiscal turmoil. Bad for Germany. Bad for the EU. Good for the US.

Its amazing that some people still think that Europe and America are "allies". I do not see them as that anymore since quite some time now. Already since before Trump. Future historians maybe will already see 2003 as the cesura.

[Jimbuna]

Originally Posted by Bilge_Rat

ok...Trump explaining to PM Trudeau how he can justify imposing tariffs under a "national security" statute:

https://www.cnn.com/2018/06/06/polit...iff/index.html

You just couldn't make this stuff up

Could you?

[Highbury]

Originally Posted by Skybird

Trumps second strike aims at European cars, which means he wants to take Germany out of the equation, so to speak - for Germany, a targetted strike at cars means the same like a targetted strike at US weapons, arms, IT and internet companies. Its the economical core domain. Germany struggling with its boom due to dropping car exports means economic and fiscal turmoil. Bad for Germany. Bad for the EU. Good for the US.

I wonder if he plans to block the import of BMWs from South Carolina, or Mercedes from Alabama? I believe he only mentioned luxury cars, so the Mercedes van plant in South Carolina should be safe for now...

As for his war of 1812 comment, he knows history about as well as he knows the words to God Bless America.

[Gerald]

LONDON (Reuters) - World stocks slipped on Friday as expectations that trade tensions will dominate this weekend’s summit of G7 countries and renewed talk of monetary tightening by major central banks weighed on risk sentiment.

The MSCI All-Country World index .MIWD00000PUS, which tracks shares in 47 countries, was down nearly half a percent by afternoon in Europe, although it was still on track to break a three-week streak of losses. Futures indicated Wall Street was set to open lower. ESc1 NQc1>

Fears of a trade war, expectations of more rate hikes in the United States, and the prospect that the European Central Bank will soon signal a winding-down of its massive monetary stimulus all contributed to the risk-off tone, investors said.

https://www.reuters.com/article/us-g...-idUSKCN1J400B

The tones get harder.

[Jimbuna]

Talks at the G7 summit in Canada have failed to resolve deep differences between US President Donald Trump and leaders of major industrial nations.

The divisions were laid bare on Friday, notably over trade.

Allies of the US are furious over Mr Trump's recent decision to impose tariffs on steel and aluminium imports, raising fears of a global trade war.

It is unclear whether a communique agreed by all will be released when the meeting concludes later on Saturday.

The two-day summit is being held in the town of La Malbaie, in Quebec province.

https://www.bbc.co.uk/news/world-us-canada-44423072

Is it just me or is Trump hell bent on peeing off allies and friends of the US?

[Torvald Von Mansee]

Has Trump started tariffs against Russia?

[Platapus]

Originally Posted by Jimbuna

https://www.bbc.co.uk/news/world-us-canada-44423072

Is it just me or is Trump hell bent on peeing off allies and friends of the US?

Trump does not seem to recognize allies of the US but only allies of Trump

[Mr Quatro]

Originally Posted by Platapus

Trump does not seem to recognize allies of the US but only allies of Trump

When did Platapus start telling the truth?

[Schroeder]

Originally Posted by Mr Quatro

When did Platapus start telling the truth?

On this forum in October 2006.