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"“If a thing loves, it is infinite.”"
(set 1 day ago)
Location: Great Britain
27,163 posts, read 13,449,232 times
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The EU, it's currently looking to respond to Biden's Inflation Reduction Act, along with US subsidies and protectionism, in what could turn in to a transatlantic trade war.
Quote:
Originally Posted by POLITICO
EU’s top economies leave behind their recent tensions to push for EU action amid trade war fears.
BERLIN/PARIS — Germany and France pushed Tuesday for tougher industrial policies such as more state subsidies for European businesses to counter the threat from U.S. reforms that risk triggering a transatlantic trade war.
The EU’s two leading economies put aside their bad blood of the past weeks to issue a joint statement vowing to "explore industrial policy possibilities" to safeguard European industries from discriminatory trade measures from Washington and also Beijing.
The declaration, which comes after two days of high-level ministerial meetings in Paris — including French President Emmanuel Macron inviting German Foreign Minister Annalena Baerbock and Economy Minister Robert Habeck to the Elysée Palace — signals an escalation of European efforts to protect home-grown manufacturing from the threat of unfair competition from the U.S.
Paris and Berlin are increasingly frustrated that U.S. President Joe Biden's administration is showing little interest in addressing their concerns about the Inflation Reduction Act, a $369 billion package of subsidies and tax breaks to boost American green businesses. From a European perspective, the American act is a protectionist measure because it encourages companies to shift investments from Europe and incentivises customers to "Buy American" when it comes to purchasing an electric vehicle.
Status:
"“If a thing loves, it is infinite.”"
(set 1 day ago)
Location: Great Britain
27,163 posts, read 13,449,232 times
Reputation: 19459
Quote:
Originally Posted by beach43ofus
Wow, I'm with Joe Biden on this one....I'm all for "buy American" policies. Way to go Brandon.
The EU and other countries will just hit back with similar protectionist legislation.
A trade war may result in the new EU-U.S. data agreement being scrapped, and could impact US internet and social media companies, with Europe being keen on breaking up US internet monopolies such as Google.
The EU and other countries will just hit back with similar protectionist legislation.
A trade war may result in the new EU-U.S. data agreement being scrapped, and could impact US internet and social media companies, with Europe being keen on breaking up US internet monopolies such as Google.
The EU isnt very strong anymore after breaking up, so Joe can easily divide and conquer them...that's what Dems do best.
Those country's need our commerce, more than we need theirs. We dont need BMW's, or French wine. We got Tesla, GM, Ford, & California wine.
They don't have anything we can't get elsewhere....no rare Earth minerals, or huge energy stockpiles, like the Middle East.
I'm good with proectionism for a while, to offset the millions of jobs we've shipped overseas since the 1990's.
Status:
"“If a thing loves, it is infinite.”"
(set 1 day ago)
Location: Great Britain
27,163 posts, read 13,449,232 times
Reputation: 19459
Quote:
Originally Posted by beach43ofus
The EU isnt very strong anymore after breaking up, so Joe can easily divide and conquer them...that's what Dems do best.
Those country's need our commerce, more than we need theirs. We dont need BMW's, or French wine. We got Tesla, GM, Ford, & California wine.
They don't have anything we can't get elsewhere....no rare Earth minerals, or huge energy stockpiles, like the Middle East.
I'm good with proectionism for a while, to offset the millions of jobs we've shipped overseas since the 1990's.
America First
U.S. goods and services trade with the EU 27 totaled an estimated $1.1 trillion in 2019, and Europe is Americas biggest trading and investment partner, with millions of jobs at stake.
There are no winners in a trade war, and it should be noted that the EU is yet to accept proposed EU-US Privacy Framework that the Biden administration has put forward, and there are also data transfer problems in relation to US social media and other US internet companies, with the EU having passed harsh new internet and data laws.
Whilst the EU will just incentivise European green energy and cars over American ones, and increase tariffs on American goods.
Last edited by Brave New World; 11-23-2022 at 05:27 AM..
Wow, I'm with Joe Biden on this one....I'm all for "buy American" policies. Way to go Brandon.
You're for the government giving $369 billion taxpayer dollars to subsidize uneconomical "green" boondoggles? I'll side with Europe on this one; they apparently respect their taxpayers.
The EU, it's currently looking to respond to Biden's Inflation Reduction Act, along with US subsidies and protectionism, in what could turn in to a transatlantic trade war.
The EU should protect its industries just as the USA is doing. Global trade is a good thing, but some strategic protection has been shown to help countries target strategic industries.
U.S. goods and services trade with the EU 27 totaled an estimated $1.1 trillion in 2019, and Europe is Americas biggest trading and investment partner, with millions of jobs at stake.
There are no winners in a trade war, and it should be noted that the EU is yet to accept proposed EU-US Privacy Framework that the Biden administration has put forward, and there are also data transfer problems in relation to US social media and other US internet companies, with the EU having passed harsh new internet and data laws.
Whilst the EU will just incentivise European green energy and cars over American ones, and increase tariffs on American goods.
They need us more than we need them, & if they play nasty, we'll stop protecting them.
Are any EU members paying their agreed upon % to GDP for their own national defense yet?
The EU isnt the EU anymore from a unity perspective after Brexit. Canada and Mexico are bigger trading partners than any single European country.
France can kiss my rear. Rememer when they failed to help us in Kawait? Most of Europe is a Liberal cesspool...except Poland, and some Eastern Europe countries. Love Poland, but not feeling it for most for most of the rest...especially France.
The EU isnt very strong anymore after breaking up, so Joe can easily divide and conquer them...that's what Dems do best.
Those country's need our commerce, more than we need theirs. We dont need BMW's, or French wine. We got Tesla, GM, Ford, & California wine.
They don't have anything we can't get elsewhere....no rare Earth minerals, or huge energy stockpiles, like the Middle East.
I'm good with proectionism for a while, to offset the millions of jobs we've shipped overseas since the 1990's.
America First
Speak for yourself. Lol.
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