Trump using tariffs to push a radical free-trade agenda

[Brave New World]

Originally Posted by Joey2k

Why is it "sad but true" if it's working?

Sounds like it will benefit the US in the long run.

The EU has agreed to negotiations, that is all, and negotiations can take years and get no where, as in the case of previous negotiations such as the Transatlantic Trade and Investment Partnership (TTIP).

TTIP negotiations had been on-going since 2013, but were halted by President Donald Trump, who then initiated a trade conflict with the EU. Trump and the EU declared a truce of sorts in July 2018, resuming talks that appeared similar to TTIP.

Transatlantic Trade and Investment Partnership - Wikipedia

So the US and EU were already in talks which Trump halted, and now he once to be treat like some trade genius for restarting talks, although the talks will not even cover vehicles and the EU is never going to change it's stance in relation to hormone injected beef, chlorine chicken and numerous other food stuffs, nor will it abandon the EU Common Agricultural Policy which has always been a cornerstone of EU Policy.

As for LNG Gas, it is more expensive that pipeline gas, and has to be shipped, whilst the EU is not a massive soyabean market lwhen compared to China.

[Riley.]

Originally Posted by neko_mimi

"Radical free-trade agenda"

It reminds me of non-sense like "free-speech extremists", or "2nd amendment extremists". I just don't see how people can have such a mindset that anything that deviates from a middle-of-the-road position somehow makes it "radical".

Thanks for pointing this out so I don't have to!! good grief. But 'free tuition for all' is NOT radical and is something we should do. Here, let me set some hair on fire this fine Monday morning. President Trump is putting America first, the economy is cruising along, jobs are being created, and our freaking 'allies' should now understand that we are neither the world's policeman nor the world's whipping boy.
Have a great week!

[pknopp]

Instead, his tough stance persuaded allies to spend billions more on defense, strengthening NATO instead.

That isn't going to happen so I see no need to read any further.

[Finn_Jarber]

Trump using tariffs to push a radical free-trade agenda

Just when his loyalists have learned to argue globalism and free trade is evil....

He is going back to Obama policies it seems.

[Brave New World]

The UK is all for free trade and will be happy to do a free trade agreement with the US after Brexit.

As for NATO it's not really a big issue, the US spends only 5% of it's defence budget on NATO and only has 5% of active service personnel based in Europe.

Indeed in terms of NATO, the Europeans are already making new pacts and a new Permanent Structured Cooperation (PESCO) and what we may well be seeing is a move away from NATO and US influence in rekation to the continent.

Originally Posted by Brroking Institution

Appeasement of Trump’s bullying is not the right strategy. Of course, Europeans need to get their house in order in defense. But that effort has little to do with symbolic defense spending targets and even less to do with the impossible task of satisfying Trump. Rather, they should focus on creating a truly independent defense capability.

That effort probably does involve more spending, but more importantly it means creating a European military capability that can stand on its own. Such a capability will allow the Europeans to negotiate with Trump, and future American presidents, from a position of equality.

Trump's meaningless NATO spending debate - Brookings Institution

As Trump twists NATO's arm, let's run the math on defense spending - Brookings Institution

The real problem is US Budget deficits and this is mainly due to massive tax cuts for the wealthy in the US such as Trump's $1.5 Trillion tax cuts.

Using NATO and trade balances just deflects these facts, indeed in terms of Europe trading tariffs are already low and average less than 3%, and the US actually has slighly higher tariffs than the EU.

China is the only country which isn't playing fair, and that's mainly in relation to currency manipulation and intellectual property. However cheap Chinese goods are not really damaging the US, and the entire US trade deficit only amounts to around 3% GDP, whilst the US economy is doing well with high levels of employment.

The fact that the US is very wealthy and has healthy rates of consumerism accounts for much of the deficit with countries that export cheap manufactured goods. Although if it wasn't China it would just be other countries such as Indonesia, Thailand, Vietnam etc.