Steel and aluminum tariffs have caused automakers, including General Motors, to lower profit forecasts for the year, but auto tariffs could bring greater headaches to boardrooms. On the European front, however, nothing will change for the time being.
Bloomberg reported Wednesday that the United States and Europe agreed to hold off on any new auto tariffs for the time being. President Trump met with European Commission President Jean-Claude Juncker to calm an escalating trade war.
President Trump proposed a 25-percent tariff on European cars imported into the U.S., which would have called for retaliatory measures by the EU. No deal has been laid out, but essentially, the two sides have agreed to have a deal to avoid new tariffs in the near future.
“We are starting the negotiation right now, but we know where it is going, President Trump said. He also called the talks a “new phase” of trade relations.
The president also said he will work with Juncker to “resolve” steel and aluminum tariffs imposed on the EU and Europe’s retaliatory measures on U.S. goods.
Comments
So Trump lost for America, right?
“New Phase” is double-speak for “Old Phase didn’t work, we lost”.
Europe made ZERO concessions (read the article), but here Trump is saying “it’s OK, Europe doesn’t have to do this if they don’t want to, there’s nothing I can do to fix it, y’know”
… that’s losing, right? That’s what he said would NOT be happening, right? That’s Make America Lose Again, right? MALA!
Or is win/lose the same as would/wouldn’t now???
At least we have Brexit. We can make those British pay more for Corvettes and Cadillacs now, right? And more for Vauxhalls too. Wait, Oh crap….
I suppose he should pull a Obama and tuck tail and pretend like we are not getting a raw deal. I don’t like Trump, not a bit. But at least he is doing something about this issue. This trade fiasco isn’t over yet. Level playing field isn’t too much to ask for.
“At least he’s doing something about it”
Did you read the article? NOTHING is what got done. And you call that “something”.
Would/wouldn’t. Did/didn’t. Not-doing-it-now, but-later-I-would-have-done-it so I will say.
If your hero says he did that thing, but he didn’t do that thing, what are you going to say? That his mouth is the real thing and the laws he signs are just fake? When you read a Dyno chart, and the Dyno owner says the red line is next to the number 500 but your engine is really pulling 700 because of magnetic impulses, what do say next?
Ever heard of Aussie Peter Brock and his Polarizer? GM fired him the next day. Magic is magic, Arctic Dog.
What actually IS the issue, which according to ArcticDog Trump is doing something about?
What does ArcticDog mean by “trade fiasco”?
Let’s all take a moment and imagine the day-to-day life of Old Trombone…
Yes (evil laugh) Old Trombone’s every phart must be dissected, that will distract you all from what Trump’’s doing to y’all.
Thanks Infamous, from every one of the rooskybots in Novosibirsk.
An interesting life to say the least…
Lying on the couch everyday with a laptop, a bag of cheesy popcorn and a metric ton of hate and animosity towards the POTUS that lives in your head, rent free. It is that scorn that drives you to visit GM Authority on a daily basis, in the hopes that there will be an article about Trump, so you can fly off the handle on a disconnected diatribe.
I would imagine that you bring a lot of joy and happiness wherever you go. 🙂
Oh well, at least I’m not lying on the couch in front of 3 TVs yelling at highly-trained and devastatingly efficient secret service officers (folks who dedicate their lives to America and get paid not much for it) to get my McD’s…
Now who’s a small-government supporter?
Everyone knows that Trump supporters are the kind of guys who sit in front of their TVs all day and night polishing their carrot and eating Cheezies. That’s why their carrot and their palms are permanently a bright radioactive shade of orange, just like their idol. Lol
The real deal here is the EU has come to the table and already offered to take the Soybeans and next will work to secure a deal to buy American Natural Gas.
Europe is buying 30% from Russia now. Is that smart? No as Putin can hold leverage over entire countries in the winter time with shutting off their fuel.
Imagine NATO partners that have fuel cut off in winter or increased in price because Putin did not like their defense system?
These are talks to where everyone gets something and it is better for all vs. what we have had for way too long. .
These are very viable countries that rely on us to defending them and make us pay most of the cost. I do not expect them to grow their defenses but at least cut us a break to help pay for all of the cost we are eating.
This is not a win/lose this is just making a fair and balanced deal for all parties involved and a more secure Europe.
This is not a done deal and it will take some talks but they will work it out.
Sometimes you have to slap someone to get their attention and that is all we did. For too long we were just enablers and that has to stop.
Like Trump or hate him this is something the last 4 administrations had failed to do and it is about time someone did.
Germany buying their gas from Russia was one of the dumbest moves ever. That was selling their soul to Putin.
Er, did you read the article? Nothing is what got done. Zero. Zilch. Nada. 1 plus minus-1. Hmmmmm
It’s freakn funny watching folks here continuously SPIN every single utterance of their hero. Doublespeak at every syllable. He wins when he even admits losing, and says “we gonna do exactly the same again, phase 2, but this time the exact same people will concede instead of beat us.”
It’s like watching a Tarot-card session with spoiled hippy children.
Yeah. Uh Huh. Right. Soooooooo Right.
The real deal in the real interests of US and EU capitalists would have been TTIP, which Trump discarded because he doesn’t understand anything about economics.
For Europe it is very advantageous to get gas and oil from the neighbor to the East who has proved to be a reliable partner thru all political disturbances, from USSR via the chaos years of the drunkard Yeltsin up today with the Putin stabilisation. OTOH, the USA has a century long history of using trade as a means of coercion for political means, and of military intervention to force governments to the US liking on other countries. So it is better not to be dependent on anything coming from the USA.
Acutally, deliveries of gas from Russia had been interrupted in the past, not by the Soviet Union or the Russian Federation, but by transit countries, notably Ukraine. This had pushed German and other Western companies and Gazprom to build the North Stream gas pipeline bypassing any transit country by laying the tubes in the Baltic Sea. The first tube is working for a number of years, and now the second tube is being put on the sea bed for more capacity, something which Trump wants to prevent in the interests of the US fracking industry.
As to the US military, it would be a big advantage for working people in Germany and the world, if the US would withdrow their military from Germany, which is there mainly as the staging and read area for the US wars in Africa, the Arab world, and Central Asia. This would enable to bring peace to these war torn countries.
This is just a conman’s negotiating style. Nothing comes from it because he’s a do nothing SOB. A total LOSER as he says so often.
They just don’t want to say Trump won again.. as EU countries want time as they consider removing all tariffs on US goods; but they’ll need to think fast because Trump will not wait for the status quo to remain before he takes action and do what’s best for American workers or Trump can take the EU approach and fine foreign Aluminum and Steel importers $5-10 Billion for dominating the market as this is the logic the EU used to fine Google $5Billion for dominating the market.
Those who hate Trump are static scorers who only see the next infinitesimal step. The Dynamic Scorers are the intelligent people who appreciate President Trump.
This Ruskie needs to learn how to speak and write the English language.
Wicki needs to comprehend the English language, and think harder than the simple next step. Vitkovsky is the name of the parents who adopted me at 4 months old. This Wicki needs to stop advertising his girth, diameter wick-thin.
Reminder about US auto exports:
No 1 is BMW with the brand BMW, from their plant in Spartanburg, South Carolina.
No 2 is Daimler with the brand Mercedes from their plant in Tuscaloosa, Alabama.
No 3 is certainly FCA with its Jeep brand.
Who else is exporting? GM and Ford established a production footprint in Europe already in the 1920ies by taking over companies (GM with Opel and Vauxhall) and Ford building their own factories from scratch. They produced and Ford is still producing cars which are adapting to the needs and tastes of the European customers.
Who will suffer from the USA raising import duties for automobiles? One of them is GM — the Buick Regal would get significantly more expensive.
This for some market facts.
Now the real issue: workers don’t have common interests with their bosses. Workers do have no “fatherland”. Workers have common interests with all other workers in all other countries.