https://www.fxstreet.com/news/us-pres-trump-may-impose-car-taxes-next-week-201811271453 Citing EU sources, the WirtschaftsWoche, German business newsmagazine, reported that US President Donald Trump could impose tariffs on imported cars as early as next week following the G20 meeting in Buenos Aires. "The report recommends 25% duty on car imports from all countries except Canada and Mexico. There will be no exceptions for certain car types," author Silke Wettach said.
Pretty funny considering BMW manufactures SUVs in South Carolina and exports to Europe. EU has 10% tariffs on US imports so the 25% is not fair in any way. MB also makes the M-class in Alabama.
If you ask me, it's pretty stupid for Trump to be picking trade fights with the EU. There's nothing to be gained, and the trade offensive against China would be vastly more effective if the EU and USA presented a coordinated front.
Exactly. Trump is acting like it's 1950. Picking a fight with everyone will be his downfall. Or are his allies Russia and Saudi Arabia now? I'm not sure how that will pan out. Trump with EU, AustraliaNZ and Japan could really bring China to the table...
"if the EU and USA presented a coordinated front." why should that happen? China remains Germany's biggest trading partner in 2017 https://www.reuters.com/article/us-...biggest-trading-partner-in-2017-idUSKCN1G5213 Germany poised to set world's largest trade surplus. ... Trade in goods is the runaway driving factor behind Germany's surplus at over €200 billion, while income from assets is also expected to add up to around €63 billion. Germany is expected to run a €18 billion deficit in services, according to IFO.Aug 21, 2018 https://www.bloomberg.com/news/arti...ving-in-china-as-trump-s-trade-war-poses-risk America has a problem(real/unreal) with China not Germany. Germany has a deficit with China of about $16.5 billion. Germany doesn't whine. https://www.destatis.de/EN/FactsFig...anyTradingPartners.pdf?__blob=publicationFile
"If you require cheap, buy chinese." it is changing to buy Vietnamese and SE asia as china moves up economically.
I was a purchasing buyer for large companies for many years, bought huge quantities of engineering equipment from Germany due to quality. Bought virtually nothing from China, we couldn't get the quality certificates. Woodside Petroleum for example refused any engineering products from China.
your anecdote is interesting. Japan after the war was known for cheap rubbish. today the best from Japan is not even exported to the US.
Japanese have a reputation for carefulness in what they wish to achieve, it's kind of a national mindset. Chinese imo have a reputation for being very competitive and will often cut corners to reach that objective. My long term opinion, so long as America/the West remain democratic (and honest) it will remain at the top of the pecking order. China is turning more back toward it's old style been there done that communism, can't see it surviving.