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originally posted by: moebius
a reply to: rickymouse
Which is counterbalanced by a huge surplus in trade in services and investment with the EU. In fact if you consider the total money flow between USA and EU. The USA are having a surplus of something like 20 bn.
But that is something your beloved Trump won't mention of course. And so you'll continue cheerleading him like the little ignorant trumpets that you are.
originally posted by: hopenotfeariswhatweneed
a reply to: rickymouse
Yes indeed, the reason you buy German products is they are far higher quality than you make in the U.S, otherwise you would buy locally made products.
originally posted by: rickymouse
originally posted by: hopenotfeariswhatweneed
a reply to: rickymouse
Yes indeed, the reason you buy German products is they are far higher quality than you make in the U.S, otherwise you would buy locally made products.
My daughters Audi sucked, it had all sorts of extra gadgets which didn't work. I wasn't that impressed, her turbocharged Labarron convertible was a much better car.
The European Union will launch a raft of retaliatory tariffs against US exports on Friday, a top official has said. The move comes after US President Donald Trump imposed steep duties on steel and aluminium earlier this month. American exports such as blue jeans, motorbikes and bourbon whiskey will be targeted, trade commissioner Cecilia Malmstrom confirmed. However, she said the bloc "did not want to be in this position". "The unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice," she said. Trump threatens more tariffs on China US imposes metal tariffs on key allies Brussels drew up the list of products in March when Mr Trump initially proposed the 25% tariffs on steel imports and 10% on aluminium, which also target Canada, Mexico and other close US allies. Cranberries, orange juice, sweetcorn and peanut butter are among the other goods targeted. It comes amid an intensifying row over trade between the US and its partners.
What does the EU say?
Ms Malmstrom called the EU response proportionate and in line with World Trade Organization rules. She said that counter-measures - which affect €2.8bn worth of US goods - would be removed if Washington removed its metal tariffs. EU steel and aluminium exports now facing US tariffs are worth a total of €6.4bn (£5.6bn).
What could the impact be?
Many of the products the EU has in its sights are specifically chosen to have maximum political effect. Bourbon whiskey is produced in Kentucky, the state of Senate majority leader Mitch McConnell. Orange juice is a key export for Florida, a swing state in the US elections.
Meanwhile, economists have warned the US metal tariffs could lead to higher metal costs, disrupt supply chains and even get passed on to US households.
Last week, the International Monetary Fund warned that the Trump administration's protectionist policies are likely to hurt the US economy and undermine the world's trade system.
IMF director Christine Lagarde said a trade war would lead to "losers on both sides" and have a "serious" impact. US Commerce Secretary Wilbur Ross has dismissed the concerns about higher costs, arguing that the effects would be minimal.
At a hearing in Washington on Wednesday, he blamed a spike in the price of steel on speculative activity and said his department would conduct an investigation into "illegitimate profiteering". And in March, Mr Trump signalled he could impose yet more retaliation if the EU raised trade barriers on US companies.
What is the reaction in the US?
US politicians criticised the measures at a hearing in Washington on Wednesday, saying they were hurting American businesses and alienating allies.
US Senator Pat Toomey, a Republican from Pennsylvania, said the use of national security to justify the metals tariffs was "wholly inappropriate".
He is co-sponsor of a bill that would limit the administration's authority on trade.
Lawmakers also said the administration's process for granting companies exemptions from the tariffs is in disarray.
Companies have submitted more than 20,000 requests for exemptions from the measures, Mr Ross said.
He said the department has granted 42 exemptions from the steel tariffs and denied 56.
Senator Claire McCaskill, a Democrat from Missouri, said the US should have published a list of exempted products when the tariffs were announced.
She said the administration was handling the issue in a "chaotic and frankly incompetent manner".