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You guys should listen to yourself sometimes before hitting that google button. Let's find out why.
Lets see..
Trade with the EU is $426B (your own link) And apparently it's going down.
USA GDP is $18.57T
So we are talking about 2.4% of the US economy.
And if the idiot EU ministers manage to cut 10% of that. We are talking about 0.24% of the American economy. It's a knat on an elephants ass in relevance.
Oh and get back to us when the EU finally starts paying it's share of costs to NATO. That's next.
So to those EU ministers, I say, "bring it on". Let's see who bends knee first.
That's GDP, US exports were 2.35 Trllion in 2014 (the last year I have figures for) and trade with the EU and the rest of Europe make up a significant percentage of this, indeed between 15 ro 20% of all US Trade.
What's more, other countries outside of Europe may also hit back at unfair legislation, whilst the WTO may also intervene if the US is breaking free trade rules, and it may impose sanctions, tariffs, fines etc on the US and US goods and services.
You're badly informed. Trump plans to massive INCREASE military spending. So less, not more money will be available for the public safety net and programs that benefit ordinary Americans.
You completely misunderstood my post. Congratulations.
One could use the same argument to dismiss your claims. If trade with the EU is such a minor thing it's not going to add a noticeable new amount of jobs in the US that would otherwise have gone to Europe.
Nope. Why don't you read the OP.
The EU Ministers directly tried to stop the tax bill.
EU governments are very unhappy that Trump and GOP have cut taxes.
They say it's unfair to the European worker because jobs will now go to Americans. .....
Trump still winning!
But at least the Euros can look forward to the United States continuing to contribute a Couple Hundred Billion Dollars per year to the Global Warming / Climate Change Group.
The EU Ministers directly tried to stop the tax bill.
But only the Democrats listened.
GOP sided with the American Worker.
Which myself and Brave New World already responded to!
Quote:
Originally Posted by Brave New World
What is proposed is a 20 per cent "excise tax" on purchases by US companies from foreign subsidiaries which would not apply to similar domestic transactions.
The EU has stated “Given this measure would impact on genuine commercial arrangements, and would do so only where payments are being made for foreign goods and services, it could discriminate in a manner that would be at odds with international rules embodied in the WTO.
"Bearing in mind that almost half of transatlantic trade is intra-company trade, this risks seriously hampering genuine trade and investment flows between our two economies, which remain a central artery of the world economy."
The EU ad other countries will just hit back, with a 20% excise tax on purchases by EU or other companies using US subsidaries, it's as simple as that and this will destroy jobs and trade in the US rather than create jobs and trade.
Quote:
Originally Posted by James Bond 007
Did you even read the article? There are as many bad things for the US in there as there are good ones. For example:
"Excise tax - "Bearing in mind that almost half of transatlantic trade is intra-company trade, this risks seriously hampering genuine trade and investment flows between our two economies," they wrote."
Given how much trade the US and EU do together, that can hardly be a good thing.
EU Ministers are infuriated that Trump & GOP cut taxes.
This is a good thing.
Deflection.
The OP and the other Trumpets here are claiming the tax bill will result in European jobs being shifted to the US. Given other items in the tax bill that is not a sure thing, and it's even possible the opposite could happen.
The EU officials objected to the excise tax and other provisions which could disrupt trade, not any claims about job gains or losses on either side of the Atlantic. Even from a US standpoint they could be correct, as a disruption in trade would hurt the US as well as the EU.
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