Industry News: European Union Ready To Respond To Any U.S. Tariff On Cars

[William Maley]

With President Donald Trump tweeting last Friday threating a 20 percent tariff on all imports of European Union assembled cars, the EU has responded by saying it would raise their tariffs on imports of U.S.-built vehicles.

“If they decide to raise their import tariffs, we’ll have no choice, again, but to react,” said EU Commission Vice President Jyrki Katainen.

“We don’t want to fight (over trade) in public via Twitter. We should end the escalation.”

This comes a month after the Trump administration announced an investigation into new car imports on the grounds of national security. U.S. Commerce Secretary Wilbur Ross said late last week the department is expected to wrap up their investigation by late July or August. A number of groups have condemned the investigation and threat of tariffs, one saying that it is “confident that vehicle imports do not pose a national security risk.” Diamler AG announced last week full-year earnings will be slightly lower than last year because of the threat of tariffs.

Source: Reuters

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[David]

This is so stupid and proves how ignorant Potus 45 is when it comes to the world economy.

Sadly, this could hurt Ford more than GM as the negative news will hurt sales of US products and right now I believe Ford outsells GM in Europe.

China is another mess all together. So sad that we have such ignorance in DC today.

[Robert Hall]

1 hour ago, dfelt said:

Sadly, this could hurt Ford more than GM as the negative news will hurt sales of US products and right now I believe Ford outsells GM in Europe. 

GM is pretty much dead in Europe after selling off Opel..

[Suaviloquent]

Trump may be stupid, but the trade war he's going for is not about what China exports to us TODAY.

 

It's Made in China 2025, the most mercantilist, protectionist goddamn industrial policy since the cold war. Nothing more needs to be said.

 

If you think Trump made WTO obsolete, wrong again. Heck I read some bull$h! article that India is cozying up to China. What a piece of work article, half-way through it mentions Modi is very concerned with India's trade deficit. No way in hell will India EVER cozy up to China! Why extend trade ties but then mention the trade deficit?

 

Plus the EU is a bunch of bureaucrats that aren't elected, and China has a president for life. We're dealing with dictatorships all over and finally the President uses threats  and is dumb enough to act out on them.

 

Plus when you hear f@#king Colombia joining NATO....like c'mon, Colombia? Yeah that's definitely North Atlantic territory for sure...

Edited June 26, 2018 by Suaviloquent

[daves87rs]

3 hours ago, Suaviloquent said:

Trump may be stupid, but the trade war he's going for is not about what China exports to us TODAY.

 

It's Made in China 2025, the most mercantilist, protectionist goddamn industrial policy since the cold war. Nothing more needs to be said.

 

If you think Trump made WTO obsolete, wrong again. Heck I read some bull$h! article that India is cozying up to China. What a piece of work article, half-way through it mentions Modi is very concerned with India's trade deficit. No way in hell will India EVER cozy up to China! Why extend trade ties but then mention the trade deficit?

 

Plus the EU is a bunch of bureaucrats that aren't elected, and China has a president for life. We're dealing with dictatorships all over and finally the President uses threats  and is dumb enough to act out on them.

 

Plus when you hear f@#king Colombia joining NATO....like c'mon, Colombia? Yeah that's definitely North Atlantic territory for sure...

Here is the missing part though...we as a country are not ready nor prepared for that battle...

But, it's pretty much like everything else he does I guess. Nothing wrong with strengthening your country, but trying to two ball others that playing a much bigger game is a sure bet to lose....

Edited June 26, 2018 by daves87rs