Trump makes veiled WTO threat after EU warning on car tariffs

[bristolboy]

7 hours ago, BuaBS said:

The Chinese devalued the Yuan , to compensate for some of the tarifs.

Actually not. In fact, the Chinese are not happy about this at all.

https://www.wsj.com/articles/chinas-currency-just-hit-its-weakest-value-against-the-dollar-in-almost-a-year-1530584512?mod=hp_lead_pos2

"The yuan’s rapid slide is posing a new test for Beijing as it grapples with a looming trade war, putting the central bank under pressure to revive the kind of interventions undertaken in the past to defend the currency’s value.

In an effort to calm jittery investors, China’s central-bank chief Yi Gang on Tuesday pledged to keep the yuan’s exchange rate “basically stable at a reasonable and balanced level,” according to an article posted on the website of the People’s Bank of China. The currency, which had fallen as much as 1.1% in early trading in mainland China—hitting its lowest intraday level since Aug. 7—recovered to close down 0.3%, with one dollar worth 6.6672 yuan."

https://www.wsj.com/articles/chinas-currency-just-hit-its-weakest-value-against-the-dollar-in-almost-a-year-1530584512?mod=hp_lead_pos2

[Jingthing]

 
So this is the way it ends for America?
 
Didn't think of that one.
 
That old devil history likes to play tricks doesn't he?
 
 

National suicide by buffoon. Original anyway.

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

[Jingthing]

It must really annoy the liberals who have nothing to offer except snarky anti Trump  comments The rest of us enjoy the constant winning.

More like the delusion of winning.

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

[Grouse]

11 hours ago, IAMHERE said:

The USA can not keep losing money to overseas nations, the well of money is not bottomless.

So stay home then. Bye!

[Grouse]

1 hour ago, Ulic said:

While I do think Trump is a dufus, I am wondering why the tariffs on cars going to the EU

are four times higher than cars coming from the EU to the USA? Was there some other

trade-off on something else. I do think the steel and aluminum tariffs are total BS but

on cars back and forth I am left scratching my head. 

Put a subsidy on American cars. Nobody will buy them anyway.

[simple1]

The OP omitted  to mention is the undermining of the WTO by the Trump Administration rejecting all proposed new judge appointments to the WTO Appeals Court in order the WTO dispute processes becomes inoperable. The Trump Administration is utilising misinformation to destroy the rules based system for global trade.

 

https://economictimes.indiatimes.com/news/economy/foreign-trade/trade-wars-us-blocking-appointment-of-members-of-wtos-appellate-body/articleshow/63177200.cms

Edited July 3, 2018 by simple1

[Curt1591]

The USA should continue paying tariffs to, while not implementing tariffs on, other countries.

After all, it's only fair and makes perfect sense.

[Srikcir]

21 hours ago, webfact said:

tariffs on cars and car parts

 

21 hours ago, webfact said:

just think about those cars that pour in here

What makes a car Made in America?

Seems almost all American BRAND cars come with some degree of foreign content that would be subjected to Trump's tariffs. Even those cars manufactured in the US by foreign auto makers unsurprisingly are not 100% US content.

From 2017 Auto Index consisting of 419 car entries (foreign brand models excluded in my list but in the Index):

• top 10 ranked models range from 78% to 85.5% American content include Ford, Chevolet, Jeep, Cadillac, Lincoln, GMC, Buick

• 19th ranking: Chevrolet Tahoe, Suburban 4WD Models @ 71%

• 30th ranking: Lincoln MKT @ 61%

• 40th ranking: Dodge Charger SRT Hellcat @ 51.5%

• 53rd ranking: Chevrolet Trax (Mexico) @ 39.5%

• 60th ranking: Lincoln MKZ @ 31.5%

• 74th ranking: Buick Envision @ 13%

https://www.american.edu/kogod/research/autoindex/index.cfm

In a worst case scenario Trump's tariff wars can destroy the American Auto industry. As that trends he'll have to make significant bailouts and subsidies to help them survive even with import tariffs, furthering to increase the federal deficit.

 

[Redline]

On 7/3/2018 at 4:47 PM, johnmcc6 said:

It must really annoy the liberals who have nothing to offer except snarky anti Trump  comments The rest of us enjoy the constant winning.

Truth hurts right.  Let’s see how he holds up in history.  He’s done nothing yet besides give tax cuts to the rich ?

[tomacht8]

As the Handelsblatt reports, US Ambassador Richard Grenell presented a good offer at the secret meeting on Wednesday 04.07. at the American Embassy in Berlin.
He was instructed by Washington to seek a solution with Brussels and Berlin in the dispute over the car duties.

According to Handelsblatt Grenell had informed the top managers that Washington was ready for a zero solution. That means: That both Europe and the USA waive car duties. This should have become known from participant circles. However, agreement can only be reached if a broader industrial customs agreement is concluded between Europe and the US - that is the WTO rules. France is still against such an agreement. However, this solution offer is a surprising turnaround in the trade dispute.

[simple1]

1 hour ago, tomacht8 said:

As the Handelsblatt reports, US Ambassador Richard Grenell presented a good offer at the secret meeting on Wednesday 04.07. at the American Embassy in Berlin.
He was instructed by Washington to seek a solution with Brussels and Berlin in the dispute over the car duties.

According to Handelsblatt Grenell had informed the top managers that Washington was ready for a zero solution. That means: That both Europe and the USA waive car duties. This should have become known from participant circles. However, agreement can only be reached if a broader industrial customs agreement is concluded between Europe and the US - that is the WTO rules. France is still against such an agreement. However, this solution offer is a surprising turnaround in the trade dispute.

Don't hold your breath as Trump has been deliberately undermining the WTO.

 

The EU’s bigger fear is that Trump’s ultimate goal is to kill off the World Trade Organization and rip up the current rule book that underpins global trade networks.

 

https://www.politico.eu/article/wto-donald-trump-protectionism-brussels-fears-trump-wants-the-wto-to-fail/

Edited July 5, 2018 by simple1

[Curt1591]

Tough talk is always part of initial negotiations. 

[bristolboy]

39 minutes ago, Curt1591 said:

Tough talk is always part of initial negotiations. 

Stupid isn't, though.

[tomacht8]

1 hour ago, simple1 said:

Don't hold your breath as Trump has been deliberately undermining the WTO.

 

The EU’s bigger fear is that Trump’s ultimate goal is to kill off the World Trade Organization and rip up the current rule book that underpins global trade networks.

 

https://www.politico.eu/article/wto-donald-trump-protectionism-brussels-fears-trump-wants-the-wto-to-fail/

I think Trump's megalomania continues in general.
However, even this stupid US government is slowly becoming aware that a trade war with all economic partners can not be won without their own economic damage. China has devalued its currency by 8%, Canada, Mexico, the EU and other states have already responded with countermeasures. A worldwide trade and currency war - all against the US - is a number too big for the mighty orange idiot, who knows everything better. 

A masterpiece of stupidity in terms of global economic policy. That China regularly violated patents and copied unabashedly protected ideas, is known worldwide. But instead of looking for like-minded partners, the benevolent, decades-long trading partners are attacked and blackmailed.

[bristolboy]

24 minutes ago, tomacht8 said:

I think Trump's megalomania continues in general.
However, even this stupid US government is slowly becoming aware that a trade war with all economic partners can not be won without their own economic damage. China has devalued its currency by 8%, Canada, Mexico, the EU and other states have already responded with countermeasures. A worldwide trade and currency war - all against the US - is a number too big for the mighty orange idiot, who knows everything better. 

A masterpiece of stupidity in terms of global economic policy. That China regularly violated patents and copied unabashedly protected ideas, is known worldwide. But instead of looking for like-minded partners, the benevolent, decades-long trading partners are attacked and blackmailed.

I agree with most of what you said but China has not devalued its currency. Rather, the markets are reacting to the prospect of a trade war. China is not happy about this devaluation.

 

China Struggles to Steady Yuan’s Decline

China is facing an uphill battle to maintain an orderly depreciation of the yuan as investors pile up bearish bets against the currency outside the mainland.

https://www.wsj.com/articles/china-struggles-to-steady-yuans-decline-1479989103

[Redline]

6 hours ago, Curt1591 said:

Tough talk is always part of initial negotiations. 

Trump has yet to negotiate anything of substance yet 

[Curt1591]

7 hours ago, Redline said:

Trump has yet to negotiate anything of substance yet 

I couldn't say; I haven't attended the discussions ....

But, ..... https://www.cnbc.com/2018/05/17/merkel-says-the-eu-is-now-ready-to-talk-trade-tariffs-with-trump--but-with-some-caveats.html

Edited July 6, 2018 by Curt1591

[Redline]

13 hours ago, Curt1591 said:

I couldn't say; I haven't attended the discussions ....

But, .....  https://www.cnbc.com/2018/05/17/merkel-says-the-eu-is-now-ready-to-talk-trade-tariffs-with-trump--but-with-some-caveats.html

There is always a possibility of some positive outcome somewhere along the line considering the amount of countries involved.  What will it be, and what will the net outcome be,  let’s see...

[bristolboy]

On 7/4/2018 at 6:02 AM, Curt1591 said:

The USA should continue paying tariffs to, while not implementing tariffs on, other countries.

After all, it's only fair and makes perfect sense.

I have got sad news for you. The US imposes a 25% tariff on light trucks such as pickup trucks.Which is the hottest segment. of the automotive market now. The tax is called the

Chicken tax

The Chicken Tax is a 25 percent tariff on light trucks (and originally on potato starch, dextrin, and brandy) imposed in 1964 by the United States under President Lyndon B. Johnson in response to tariffs placed by France and West Germany on importation of U.S. chicken.^[1] The period from 1961–1964^[2] of tensions and negotiations surrounding the issue was known as the "Chicken War," taking place at the height of Cold War politics.^[3]

Eventually, the tariffs on potato starch, dextrin, and brandy were lifted,^[4] but over the next 48 years the light truck tax ossified, remaining in place to protect U.S. domestic automakers from foreign competition (e.g., from Japan and Thailand).^[5

^{https://en.wikipedia.org/wiki/Chicken_tax}

[Curt1591]

8 hours ago, bristolboy said:

I have got sad news for you. The US imposes a 25% tariff on light trucks such as pickup trucks.Which is the hottest segment. of the automotive market now. The tax is called the

Chicken tax

The Chicken Tax is a 25 percent tariff on light trucks (and originally on potato starch, dextrin, and brandy) imposed in 1964 by the United States under President Lyndon B. Johnson in response to tariffs placed by France and West Germany on importation of U.S. chicken.^[1] The period from 1961–1964^[2] of tensions and negotiations surrounding the issue was known as the "Chicken War," taking place at the height of Cold War politics.^[3]

Eventually, the tariffs on potato starch, dextrin, and brandy were lifted,^[4] but over the next 48 years the light truck tax ossified, remaining in place to protect U.S. domestic automakers from foreign competition (e.g., from Japan and Thailand).^[5

^{https://en.wikipedia.org/wiki/Chicken_tax}

OMG! We implemented a tariff !?!

Judging by the lack of small trucks since, it looks like the market was destroyed !

[bristolboy]

1 minute ago, Curt1591 said:

OMG! We implemented a tariff !?!

Judging by the lack of small trucks since, it looks like the market was destroyed !

Here's your comment from before:

 

"The USA should continue paying tariffs to, while not implementing tariffs on, other countries.
After all, it's only fair and makes perfect sense."

 

First of all, you got it wrong. You might at least have the honesty to cop to that.  The USA does impose tariffs on a very important segment of the auto market.

 

  Presumably your complain about foreign tariff imposed on US made autos was because it protects foreign n automobile manufacturers by keeping US made automobiles out.

Now your point is that the bigger tariffs imposed by the US didn't hurt US auto manufacturers? They're not supposed to. They're supposed to protect them. That's why it's called protectionism.

So you complain about protecionism when practiced by other nations but it's not a bad thing when practiced by the USA?  Your comments are remarkably incoherent.

 

[Srikcir]

2 hours ago, Curt1591 said:

Judging by the lack of small trucks since, it looks like the market was destroyed !

Make that small trucks produced by any country, whether US or foreign.

With more innovation and options, better crash survivability, better pricing and marketing the more expensive large trucks and SUV's destroyed the small truck industry. Foreign and domestic tariffs had little to nothing to the demise of the small truck.

[bristolboy]

4 minutes ago, Srikcir said:

Make that small trucks produced by any country, whether US or foreign.

With more innovation and options, better crash survivability, better pricing and marketing the more expensive large trucks and SUV's destroyed the small truck industry. Foreign and domestic tariffs had little to nothing to the demise of the small truck.

It's light trucks that have the tariff imposed on them. SUV's are considered to be light trucks.

Light trucks includes vans, pickups, and sport utility vehicles.^[2]

The United States government uses light truck as a vehicle class in regulating fuel economy through the Corporate Average Fuel Economy (CAFE) standard. The class includes vans, minivans, sport utility vehicles, and pickup trucks

https://en.wikipedia.org/wiki/Light_truck

[Kiwiken]

On 7/3/2018 at 6:59 AM, DoctorG said:

I am sure Trump has better qualified economic advisors than we "experts" here on TVF.

Who Mickey Mouse and Donald Duck . I am sure Trump is Squeaking Crackers!

[Curt1591]

13 minutes ago, Kiwiken said:

Who Mickey Mouse and Donald Duck . I am sure Trump is Squeaking Crackers!

Yes; Trump overcame the RNC, the DNC, and the press, to become president of the US, because he is crazy stupid. 

 

[Srikcir]

2 minutes ago, Curt1591 said:

Yes; Trump overcame the RNC, the DNC, and the press, to become president of the US, because he is crazy stupid. 

 

Another perspective:

Putin overcame the RNC, the DNC, and the press, to make a president of the US, because he is crazy smart.

[Curt1591]

1 minute ago, Srikcir said:

Another perspective:

Putin overcame the RNC, the DNC, and the press, to make a president of the US, because he is crazy smart.

1) Trump and Putin are lovers!

 

2) Trump is leading us to war with Russia!

3) Trump and Kim Jung-Unc are lovers!

4) Trump is sending us towards nuclear destruction with North Korea!

Which way will the wind blow tomorrow?

[bristolboy]

1 hour ago, Curt1591 said:

1) Trump and Putin are lovers!

 

2) Trump is leading us to war with Russia!

3) Trump and Kim Jung-Unc are lovers!

4) Trump is sending us towards nuclear destruction with North Korea!

Which way will the wind blow tomorrow?

Maybe the same direction as your hot air?

[Curt1591]

Brilliant! 

[Peasandmash]

This is the kind of information the media broadcasts while not mentioning that Halal meat and Halal foods are now the UKs biggest import and only second to Germany then Sweden.