EU Folds - Agrees 15% Tariff

[Lacessit]

5 minutes ago, RayC said:

 

 

 

Suffice to say, replacing Russian-sourced energy with US-sourced energy is imo to be welcomed.

 

 

 

Canada has a growing market in oil and gas to the EU. It also supplies 50% of America's oil. Midwest refineries are designed for Canadian heavy crude.

 

This looks like a game of pea and thimble to me. Who will end up with the pea?

 

 

[Peter Crow]

11 hours ago, novacova said:

Currently the US has a trade deficit with the EU and the EU has a surplus, Trump just corrected that, what is it about that you can’t wrap your head around? 

So you reckon US is unable quality goods capable to compete on an even and fair market? 

 

And truly, I am still laughing a TACO's ridiculous assertion that now these ridiculous, primitive, totally outdated, gas guzzling US pickup trucks would stand a chance on the EU market. While US middle class will always dream of Mercedes, BMW and Porsche, simply because these are the best cars anyone can buy. And soon enough BYD will be the EV BMW.

[Will B Good]

9 minutes ago, Lacessit said:

The monthly UK pension is 43,371 baht.

 

The monthly Australian base pension is 52,652 baht. We get any COL adjustments.

 

Just saying....

 

 

That makes me feel so much better.......!!!!!

[RayC]

1 minute ago, CallumWK said:

 

There will only be a deal after it is approved by all 27 members

 

True but it's just a rubber-stamping exercise. It's inconceivable that v.d. Leyen could have agreed to this deal without prior approval from the member states.

[Cameroni]

Quote

the EU pledged to make $750 billion in strategic purchases, covering oil, gas, nuclear, fuel and chips during U.S. President Donald Trump's term in office. The EU pledged to buy U.S. military equipment" (Comment: No mention of anything like €800bn being spent on US arms alone).. 

 

The 800 billion figure was what the Germans pledged to spend on their own arms industry, but it is clear now that instead a major proportion of that money will go to the US instead to buy American weapons.

 

The press release said "vast amounts" of military goods, so it will be hundreds of billions, just as with energy.

 

What commitments has Trump made to buy EU arms, EU energy or to invest in the EU? Zilch, nada, zero, niente.

 

In addition the EU products are now slapped with a  much higher tariff than before.

 

Quote

 

A bad deal for the EU? Certainly. 

A really terrible deal? No.

 

 

Yes, Donald Trump only got 99.9% of what he wanted.

 

I still can't believe the Brits managed to negotiate 10%, with their dying economy, and the EU a market hundreds of million souls larger could only manage a 15% reduction. 

 

Terrible negotiators from the EU.

[CallumWK]

3 minutes ago, RayC said:

 

True but it's just a rubber-stamping exercise. It's inconceivable that v.d. Leyen could have agreed to this deal without prior approval from the member states.

 

I doubt she did agree, and going by the criticism from several major members, I'm not so sure if there will be an agreement.

[RayC]

5 minutes ago, CallumWK said:

 

I doubt she did agree, and going by the criticism from several major members, I'm not so sure if there will be an agreement.

 

All the major EU states except France appear to have accepted it. The French PM is vocal in his disapproval; nothing from Macron but he needs all the friends he can get, so I can't see him picking a fight with the Commission and Germany over this.

 

Actually, I agree with the critics: It is a bad deal for the EU but I can't see it being blocked.

 

[Lacessit]

14 minutes ago, Cameroni said:

 

 

 

I still can't believe the Brits managed to negotiate 10%, with their dying economy, and the EU a market hundreds of million souls larger could only manage a 15% reduction. 

 

Terrible negotiators from the EU.

Simple - Trump adores British royalty, and they can speak English.

[Yagoda]

48 minutes ago, DezLez said:

You two must be soul mates as that is same as most of your posts!

 

PS; I suggest that if you are going to complain about a poster's English that you type it correctly!

Do you think the predictions of economic Armageddon over Trumps economic plans were wrong?

[Yagoda]

3 minutes ago, Lacessit said:

Simple - Trump adores British royalty, and they can speak English.

Simple-England walks in lockstep with their more powerful brother. 

[Yagoda]

48 minutes ago, John Drake said:

 

Japan. It turned out to be non-existent.

Source? Tell us how.

[josephbloggs]

4 hours ago, Purdey said:

A country with 350 million people will always buy more than a country with 70 million. There is no way to balance the trade. 

Come on, it's simple!

 

 

[Cameroni]

5 minutes ago, Lacessit said:

Simple - Trump adores British royalty, and they can speak English.

 

That's part of it, but the Brits played it much smarter, they accepted the slap in the face and did not try and pretend they can smack just as hard. When the EU slapped the US with tariffs they angered Trump. Von der Leyen should have read Art of the Deal, only take out the stick if you're able to use it. In the end they just conceded. Poor form after a big mouth.

 

Britain by contrast, by design aimed to avoid slapping the US with tariffs and was conciliatory. It paid off for them.

[RayC]

23 minutes ago, Cameroni said:

 

The 800 billion figure was what the Germans pledged to spend on their own arms industry, but it is clear now that instead a major proportion of that money will go to the US instead to buy American weapons.

 

The press release said "vast amounts" of military goods, so it will be hundreds of billions, just as with energy.

 

 

Trump's words were , " ... we don't know what the exact figure is (yet) .."

 

It is pure conjecture to suggest that a major proportion (>€400bn) will now go to US defence companies.

[Cameroni]

2 minutes ago, RayC said:

 

Trump's words were , " ... we don't know what the exact figure is (yet) .."

 

It is pure conjecture to suggest that a major proportion (>€400bn) will now go to US defence companies.

 

The press release said "vast amounts". My bet's on billions.

[DezLez]

29 minutes ago, Lacessit said:

Simple - Trump adores British royalty, and they can speak English.

Unlike him!

[CallumWK]

56 minutes ago, CallumWK said:

 

There will only be a deal after it is approved by all 27 members

https://p.dw.com/p/4y78q

 

What does the trade deal mean for the EU?

The trade pact means the bloc would avoid the 30% tariffs that Trump had threatened on all goods from the EU on July 12. 

But it marks a significant compromise, especially given that European Commission President Ursula von der Leyen offered a "zero-for-zero tariffs for industrial goods" when talks began.

Still, von der Leyen said they agreed "zero-for-zero tariffs on a number of strategic products" including aircraft and aircraft parts, some chemicals, and certain agricultural products.

She added that the framework trade deal did not contain any decision regarding the spirits sector.

The trade pact will need to be approved by all 27 member states. 

[JAG]

2 hours ago, Lacessit said:

Smarter than the ones who believe in homeopathy, copper bracelets, and crystals.

 

Are you an anti-vaxxer? Figures.

Personally, the jury is out on homeopathy, copper bracelet works for me, and I think the whole crystal business is rubbish.

 

Quite keen on vaccines though. l knew the leading British anti vaccination activist Andrew Wakefield at school. He was a particularly nasty bully!

[RayC]

24 minutes ago, Cameroni said:

 

The press release said "vast amounts". My bet's on billions.

 

Fine. But until a figure is released and details of what products are to be purchased, the value to the US economy remains unknown.

[BLMFem]

48 minutes ago, Yagoda said:

Do you think the predictions of economic Armageddon over Trumps economic plans were wrong?

He's got a plan??

[Cameroni]

19 minutes ago, CallumWK said:

The trade pact will need to be approved by all 27 member states. 

 

Details, details.

[candide]

1 hour ago, Yagoda said:

When was the last time were were in an American supermarket?

Blah blah. Food inflation is 2.9%

[vinny41]

1 hour ago, CallumWK said:

 

I think you are taking my post out of its context.

 

Trump had announced 30% of tariffs starting August 1. While there is no deal yet, the EU has managed to get that reduced to 15%, while they are working on a deal. But also have 30% tariffs on US goods already approved by all members of the bloc, which can be enforced immediately if further negotiations don't go as expected.

 

I haven't seen any details published yet, so where do you get the 0% on US cars from? It's not because Trump says so, that it is the truth, in fact, I'm pretty sure it is a lie.

 

 

 

I don't think the EU would be so Stupid as to implement an increase of 30% tariffs if  further negotiations don't go their way

EU officials confirmed that the bloc will lower its import duty on US cars to 2.5 percent as part of the agreement

https://www.helsinkitimes.fi/world-int/27524-eu-and-us-agree-on-15-trade-tariffs.html

For years now US EU car tariffs have been 10% in the EU favour while EU US tariffs have been 2.5%

so now the position is reversed in USA favour

 

[Lacessit]

24 minutes ago, JAG said:

Personally, the jury is out on homeopathy, copper bracelet works for me, and I think the whole crystal business is rubbish.

 

Quite keen on vaccines though. l knew the leading British anti vaccination activist Andrew Wakefield at school. He was a particularly nasty bully!

There is no scientific evidence that copper bracelets have any health benefits.

 

Having said that, human belief is an extremely powerful thing. The average placebo effect for medications is 30% - 40%.

 

There are 2.3 billion Christians and 2 billion Muslims in the world. They don't have scientific evidence for their beliefs either.

[hotsun]

2 hours ago, John Drake said:

 

This is the problem with Trump. It's like that picture, Dogs Playing Poker. Trump is always the dog wagging his tail. And that's why a week later, these "deals" always look bad.

 

You were wrong about your post saying trump should stay out of the Cambodia war, very wrong.

[Yagoda]

14 minutes ago, candide said:

Blah blah. Food inflation is 2.9%

Not in my house LOL. Maybe French wines. Why do you care, btw?

[candide]

2 minutes ago, Yagoda said:

Not in my house LOL. Maybe French wines. Why do you care, btw?

Sorry, I trust official numbers more than the Yagoda Price Index! 🤣

[Yagoda]

17 minutes ago, Lacessit said:

There are 2.3 billion Christians and 2 billion Muslims in the world. They don't have scientific evidence for their beliefs either.

There are billions of Socialists who have no scientific evidence of their belief as well as Buddhists and Hindus

[Yagoda]

8 minutes ago, candide said:

Sorry, I trust official numbers more than the Yagoda Price Index! 🤣

Well here they are. 

 

https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings

[CallumWK]

22 minutes ago, Yagoda said:

37 minutes ago, candide said:

Blah blah. Food inflation is 2.9%

Not in my house LOL. Maybe French wines. Why do you care, btw?

 

8 minutes ago, Yagoda said:

Well here they are. 

 

https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings

 

From your own link

 

Food prices in June 2025 were 3.0 percent higher than in June 2024.

 

In 2025, prices for all food are predicted to increase 2.9 percent, with a prediction interval of 2.2 to 3.7 percent.