German industry warns USA auto tariffs not completely off table yet


"The one thing we have learned from the last 18 months of Trump's gyrating trade policies is that whatever looks certain today is likely to be undermined tomorrow", Gavekal strategists said in a note. "If we team up, we can make our planet a better, more secure, and prosperous place".

"Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs". The largest economic relationship anywhere in the world.

In addition, Germany benefits from favorable trade terms, including higher tariffs on auto imports from the U.S. than it faces when exporting to the U.S. Not surprisingly, with this advantage, Germany is highly dependent on global trade.

On Tuesday night, Trump set out his pitch, tweeting that both sides should drop all tariffs, barriers and subsidies, but that the European Union wouldn't agree to that.

Coming up: The US is also considering additional tariffs of more than $200bn on Chinese products, as well as duties on foreign cars and vehicle parts, which represent more than $300bn in annual trade.

And, ahead of Juncker's arrival, Trump's been in full "made in America" mode - flaunting US-made products. The announcement came hours after Trump took to Twitter TWTR to proclaim: "Tariffs are the greatest!"

Trump then moved to the second portion of the agreement, "strengthening of [America's] strategic cooperation with respect to energy".

Hmmm. Read the joint U.S. -EU statement. Including words to reassure: America and the European Union are "best friends" and saying all the talk of "foes" is fake news.

President Donald Trump tweeted Tuesday morning that "tariffs are the greatest" as the United States prepares to impose a variety of tariffs on numerous countries.

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Trump and Juncker agreed to immediately set up an executive working group comprised of "very intelligent people on both sides" to be their "closest advisers" and carry out the joint agenda.

"To which my response is "I don't need a short-term band-aid for this wound you've opened up" said Kenny.

The U.S. Department of Agriculture announced $12 billion in aid this week to help farmers hurt by retaliation to the Trump administration's tariffs on foreign goods. We will therefore work closely together with like-minded partners to reform the WTO and to address unfair trading practices, including intellectual property theft, forced technology transfer, industrial subsidies, distortions created by state owned enterprises, and overcapacity.

And Senator Ron Johnson warned that "no one wins a trade war".

He also said they would "resolve the steel and aluminium tariffs", while Mr Juncker said the sides would hold off on any new tariffs while talks proceed. He echoed President Trump and efforts to strengthen energy cooperation and importation of LNG.

US companies and industry groups are finding it increasingly hard to escape the impact of Trump's tariffs.

"This was a very big day for free and fair trade, very big day indeed", said Trump in closing.

On the South Lawn, Trump walked among a number of products manufactured across the nation, including a Lockheed Martin F-35 aircraft from Maryland, a Ford F-150 pickup truck from MI, a Newmar recreational vehicle from IN and a Ranger speedboat from Arkansas.