Politics

[Hogpatrol]

 

[Hogpatrol]

 

[Hogpatrol]

 

[Hogpatrol]

 

[Hogpatrol]

 

[Hogpatrol]

 

[Brent in Az]

 

[Royal27]

And even the WTO agrees, fair is fair.

What isn't mentioned in this article, but a very important point, is that per the WTO ruling the EU can't retaliate for increased tariffs on it's members. I bet Tusk didn't sleep well last night.


Scottish whisky makers reel over U.S. tariffs in row over EU subsidies
Reuters - 6:10 AM ET 10/3/2019 Top News

* WTO gave green light for U.S. tariffs in EU subsidy row

* U.S. tariffs on EU goods threatens tit-for-tat moves

* Row follows rising U.S.-China trade tensions

* EU luxury goods, other drinks firms rise in relief rally

By Kate Holton

LONDON, Oct 3 (Reuters) - Scottish whisky makers said on Thursday jobs and investment were at risk after the United States slapped a 25% tariff on their single malt spirit and France said the European Union could respond in the row over EU aircraft subsidies.

The World Trade Organization gave the United States a green light to impose tariffs on $7.5 billion worth of EU goods annually in the long-running case, a move that threatens to ignite a tit-for-tat transatlantic trade war.

"If the American administration rejects the hand that has been held out by France and the European Union, we are preparing ourselves to react with sanctions," French Finance Minister Bruno Le Maire said on Thursday.

Washington said that, after 15 years of litigation, it would impose 10% tariffs on European-made Airbus planes and 25% duties on French wine, Scotch and Irish whiskies, and cheese from across the continent.

The measures would follow tariffs levied by the United States and China on hundreds of billions of dollars of each other's goods in their more than year-old trade war, which has dampened the outlook for the global economy.

"The tariff will put our competitiveness and Scotch Whisky’s market share at risk," Scotch Whisky Association Chief Executive Karen Betts said in a statement, adding that it would hurt investment and job creation in the industry.

The association, which called for restraint from all sides, said single-malt whisky represented over half of the total value of British products on the U.S. tariff list, amounting to over $460 million, even though the row was over aircraft subsidies.



U.S. WARNING

The tariffs heavily target products from the four countries in the consortium of European planemaker Airbus, including Spanish olives, British sweaters and woollens, and German tools and coffee, as well as British whisky and French wine.

Cheese from nearly every EU country will also be hit with the 25% tariffs, but Italian wine and olive oil were spared, along with European chocolate.

Shares in European luxury goods, including British fashion brand Burberry, and drinks companies, such as France's Remy Cointreau, rose on Thursday, after the tariffs excluded cognac, champagne and leather goods.

The size and scope of the tariffs were reduced considerably from a $25 billion list floated by Washington this year that included helicopters, major aircraft components, seafood, luxury goods and other categories excluded from Wednesday's announcement.

One person familiar with the case said the U.S. Trade Representative (USTR) was deliberately not using the full extent of WTO-approved retaliation to coax the European Union into negotiations.

But the USTR also issued a warning. "The U.S. has the authority to increase the tariffs at any time, or change the products affected. USTR will continually re-evaluate these tariffs based on our discussions with the EU," USTR said.

Airbus and U.S. firm Boeing, the world's two largest planemakers, have waged a war of attrition over subsidies at the WTO since 2004, in a dispute that has tested the trade policeman's influence and is expected to set the tone for competition from would-be rivals from China. (Additional reporting by Tim Hepher, Julien Ponthus, Joice Alves and Danilo Masoni in London, Philip Blenkinsop in Brussels and David Shepardson in Washington; Writing by Edmund Blair; Editing by Jon Boyle)

https://www.fidelity.com/news/article/top-news/201910030551RTRSNEWSCOMBINED_L5N26O2B3_1

 

[Wheels]

Korean trade has been reset. Japanese trade has been reset. Canadian and Mexican trade will be reset when pelosi and Trudeau sign off on usmca.

A China trade deal may never happen, and as long as ccp is in charge that is probably good. Lighthizer and Ross will never allow a deal that is not measurable and unilaterally enforceable by America. As long as trump doesn’t cave in at some point, which it doesn’t look like he will, America will be on equal ground with their major trading partners, except the E.U.

The E.U. was the last major group to deal with since it will be the most complicated. Also lighthizer wanted to give American multinationals plenty of time to divorce themselves from China and developed new supply chains.

Timing of the wto decision is interesting. This is just the first volley. Should trump serve five more years, the Marshall plan and its tentacles will finally be removed with Europe. There should have been sunset laws never allowing Europe to take advantage of trade with America for near this long.

By the end of the trump presidency, america should have free trade In most places. The American worker will have stopped subsidizing the world!

 

[Hoas]

 

[Opposite Pole]

I bet Tusk didn't sleep well last night.

Do you really think politicians lose any sleep over issues affecting businesses and other people?

Also: “In a separate case launched in 2005, the EU alleged that Boeing had received $19.1 billion worth of prohibited subsidies from 1989 to 2006 from various branches of the US government.

After earning a series of victories in that equally epic case, Brussels asked a WTO arbitrator to give it permission to slap retaliatory tariffs on $12 billion in US goods.

The WTO is likely to decide on a lower number in a decision expected in about six months.”

 

[Wheels]

After USMCA is completed and when American companies have had a respectable period of time to relocate their supply chains out of China, (whether a trade deal is negotiated or not) expect to see negotiations begin in earnest between the EU and USA. Currently the EU averages about 40%+ higher tariffs on American goods than America has on EU goods. This amounts to a $170B trade deficit for America. In other words, there is no way America will loose a trade dispute with the EU, as America can keep raising tariffs long after the EU runs out of items to tariff. (see what has happened between America and China) Realize all Trump wants is an even playing field and true reciprocity. He is not forcing an unfair situation on any country, expect perhaps China due to their theft.

Targeting of tariffs within the EU is what will be interesting to watch. Look for Germany and France to receive the most since they control the EU. Also look for countries that do not meet their NATO contribution rates to be targeted. Obviously this is most of them. It wouldn't be surprising if the eastern European countries weren't given a bit of a break compared to the western European countries.

The WTO has become amazingly corrupt. Countries buy off decisions. Will the institution survive. Time will tell.

Regarding politicians loosing sleep. Tusk certainly does. His EU is faced with many forces from within, and by it's own making. External forces such as trade negotiations just ads more problems. His concern is keeping the union together. Will it survive until 2030???

Juncker doesn't loose sleep. He stays so pickled it is amazing he can even work.

 

[Royal27]

Do you really think politicians lose any sleep over issues affecting businesses and other people?

When it just impacts their constiuents negatively? Hell no!

When it will impact their personal power? Hell yes!

 

[Opposite Pole]

Juncker doesn't loose sleep. He stays so pickled it is amazing he can even work.

I’ve never seen him do anything bearing slightest resemblance to work.

 

[Wheels]

After USMCA is completed and when American companies have had a respectable period of time to relocate their supply chains out of China, (whether a trade deal is negotiated or not) expect to see negotiations begin in earnest between the EU and USA. Currently the EU averages about 40%+ higher tariffs on American goods than America has on EU goods. This amounts to a $170B trade deficit for America. In other words, there is no way America will loose a trade dispute with the EU, as America can keep raising tariffs long after the EU runs out of items to tariff. (see what has happened between America and China) Realize all Trump wants is an even playing field and true reciprocity. He is not forcing an unfair situation on any country, expect perhaps China due to their theft.

Targeting of tariffs within the EU is what will be interesting to watch. Look for Germany and France to receive the most since they control the EU. Also look for countries that do not meet their NATO contribution rates to be targeted. Obviously this is most of them. It wouldn't be surprising if the eastern European countries weren't given a bit of a break compared to the western European countries.

The WTO has become amazingly corrupt. Countries buy off decisions. Will the institution survive. Time will tell.

Regarding politicians loosing sleep. Tusk certainly does. His EU is faced with many forces from within, and by it's own making. External forces such as trade negotiations just ads more problems. His concern is keeping the union together. Will it survive until 2030???

Juncker doesn't loose sleep. He stays so pickled it is amazing he can even work.

PS: At this point, don't expect a trade deal with China until they come clean with documentation regarding the Biden's.

Horowitz, Huber, Durham and Barr are about to have their turn's. It will be devastating. Peoples eyes will at last be opened. Lady Justice's blindfold will be returned. Pray for justice. We live in fun and interesting times!

 

[nztimb]

this is a riviting video

 

[Mort Hill]

Good stuff! Makes one scratch their head and think hard!

 

[tigris115]

With politics, there's one thing that really gets my preverbial goat: low blows.

For example, with the whole Greta thing, I saw several memes that went quite below the belt.

Now even if you don't liberals, this only serves to make your side look like a bunch of assholes.

 

[tarbe]

With politics, there's one thing that really gets my preverbial goat: low blows.

For example, with the whole Greta thing, I saw several memes that went quite below the belt.

Now even if you don't liberals, this only serves to make your side look like a bunch of assholes.

Do you worry if people you dislike and disagree with think ill of you?

I don't.

 

[Hogpatrol]

I wasn't aware that in politics anything was below the belt. It certainly wasn't give a thought when the adults paraded that whiny little spoiled brat before the U.N.