Thursday, 20 September, 2018

European Union warns Trump: auto tariffs could lead to $300B retaliation

Donald Trump Image Donald Trump believes the EU treats America 'very badly'
Lloyd Bates | 04 July, 2018, 01:39

Citing data from S&P Dow Jones Indices, Barron's reported that S&P 500 companies bought back $189.1 billion of shares during the first three months of the year.

A top vehicle manufacturer consultant says that the cost of new cars and trucks in the USA could spike by up to $5,000 if President TrumpDonald John TrumpTrump: Democratic voters will support Republicans because of ICE criticism Coney Barrett, Kavanaugh among candidates who met with Trump: report Trump administration recommends against allowing China Mobile access to United States market MORE decides to impose tariffs on foreign automobiles.

The commission also underlined that European auto companies were important contributors to the U.S. economy and "well established" there.

Affected exports to the European Union, $133 million, include beauty products.

Instead, the summit is expected to produce a modest communique, which affirms the commitment of both sides to the multilateral trading system and promises to set up a working group on modernizing the WTO, EU officials said.

But mounting trade tensions have opened a rift with the President. USA markets are scheduled to close early ahead of Wednesday's Independence Day holiday. "So if there's countries out there that want to do that, I'm sure he'd be happy to sit down and make that happen right now and move this process forward a whole lot quicker".

In a submission to the United States authorities, the European Commission warned: "Economic analysis confirms that an increased tariff on these products (cars and auto parts) will be harmful first and foremost for the U.S. economy". On Friday, Canada struck back at United States steel and aluminium tariffs, vowing to impose punitive measures on US$12.6 billion (S$17.23 billion) worth of American goods until Washington relents.

Still, China's stance is striking given Washington's deep economic and security ties with European nations.

The EU responded to the steel and aluminum tariffs with "rebalancing measures" that hit around $3.25 billion worth of American-made products.

Syrian rebels lose string of southwest towns
Israeli officials said they can't possibly take in 160,000 refugees, but are trying to do everything possible to help them. Forces loyal to Syria's President Bashar al-Assad are deployed in al-Ghariya al-Gharbiya in Deraa province.

Future starts now for Germany after shock first-round exit in Russian Federation
I think everyone has a soft spot for their last 16 opponents Mexico and not just because their fans have brightened up the event. He said: "At that time, Spanish teams were favourites but, to use a Russian expression, "anyone can be God if he tries to".

Kane praises team-mates after England cruise to 6-1 victory against Panama
England's impressive start in Russian Federation means they are already within sight of their record for goals at a World Cup . Senegal and Japan are now best placed to escape the group after Poland and Colombia suffered defeats in their opening games.

Its ironic that the protectionist concept of trade tariffs will essentially threaten jobs in the USA, as usual in any conflict, trade or otherwise, there is always "collateral damage".

"Trump has split the West, and China is seeking to capitalize on that". "Trump only understands the language of power", one high-ranking European Union diplomat told Handelsblatt.

The European Commission said the USA investigation into auto imports "lacks legitimacy, factual basis and violates worldwide trade rules". "They treat us very unfairly", Trump said qualifying his remarks.

The new 25 percent import tax, which takes effect on July 6th, will drastically increase the price of circuit boards and other components built in China.

The EU in its submission said that European companies make close to 2.9 million cars in the USA, supporting 120,000 jobs - or 420,000 if cars dealerships and vehicle parts retailers are included, according to Reuters.

While it says that it sources circuit boards from U.S. suppliers wherever possible, "paying up to 30% over the price of the same circuit boards made overseas", the majority of the raw components still come from China and it will be unable to avoid the cost increase.

"We don't know if this offer to open up is genuine yet", a third European Union diplomat said.

The European Union is seeking to pass legislation to allow greater scrutiny of foreign investments. "It's unlikely to mark a systemic change".

Recommended

  • Amazon Prime Day 2018 announced with big deals

    Amazon Prime Day 2018 announced with big deals

    Amazon promises an additional 10 percent off hundreds of sale items at Whole Foods and deeper discounts on some popular products. This will be the first Prime Day with Whole Foods Market under the Amazon umbrella, and the grocer will be front and center.

    Notorious thief flees French jail by helicopter

    According to reports , three accomplices, armed with Kalashnikovs, showed up at the prison entrance demanding Faid's release. He was captured on May 29, 2013 when authorities found him hiding out at a hotel in Pontault-Combault, east of Paris .
    LeBron James, Lakers Agree To 4-Year, $154 Million Deal

    LeBron James, Lakers Agree To 4-Year, $154 Million Deal

    In his Sports Illustrated essay announcing his return, he said "I always believed I'd return to Cleveland finish my career there". But while the Cavs and Lakers appear to be the front-runners for James, the Philadelphia 76ers aren't ready to give up the fight.
  • Google lets 3rd-party app developers read your emails

    Google lets 3rd-party app developers read your emails

    Company computers, which scan some 100 million emails a day, were "trained" by workers who personally read thousands of emails. You may need to research each individual program or service to make an educated decision.
    Mexico fans share tequila with South Korea ambassador after shock Germany exit

    Mexico fans share tequila with South Korea ambassador after shock Germany exit

    Disharmony Coach Joachim Low felt there was a degree of arrogance within the squad going into the World Cup (Lee Jin-man/AP). So despite a 3-0 loss to Sweden , Mexico was through to the round of 16 for the seventh straight time.
    Fortnite Missile Launch Event, Watch Here

    Fortnite Missile Launch Event, Watch Here

    Whether or not the mode will be released again anytime soon remains unclear at this point in time. So, we're left waiting even longer for more information on when Playground mode might return.
  • Pelicans, Randle agree to 2-year deal

    Pelicans, Randle agree to 2-year deal

    Unless Ball is traded away, he would most likely be demoted to a bench role with fellow youngsters Josh Hart and Moe Wagner. His stats as a starter: 18.6 points, 9.1 rebounds, 3.1 assists on 56.0 percent shooting in 29.9 minutes per game.
    Jan Bednarek ensures victory for Poland, but Japan still reach last 16

    Jan Bednarek ensures victory for Poland, but Japan still reach last 16

    So Japan goes through and next plays the victor of Group G on Monday, while Colombia will face the Group G runner-up Tuesday. Poland , for the third straight World Cup that it has competed in, lost its first two group matches and then won its third.
    How do Colombia qualify for last 16? Japan, Senegal

    How do Colombia qualify for last 16? Japan, Senegal

    Senegal finished level with Japan on points in their group, missing out on the knockout stages due to having more bookings. His exit did little, however, to revive the sluggish South Americans, who had been second best in nearly every department.
  • Blockbuster move: LeBron James signs with the Los Angeles Lakers

    Blockbuster move: LeBron James signs with the Los Angeles Lakers

    But the Warriors obtained Kevin Durant after that loss and Golden State has gone 8-1 against the Cavs in the two NBA Finals since. Here are five reasons to love the Lakers signing James.
    Spanish legends we might not see after the 2018 World Cup

    Spanish legends we might not see after the 2018 World Cup

    Koke and Iago Aspas then both failed in the shoot-out, marking a disappointing end to the midfielder's glorious Spain career. Sergio Ramos was the first Spanish player to talk to the media following Spain's elimination from the World Cup .
    Mexico smashed but benefit from Germany collapse

    Mexico smashed but benefit from Germany collapse

    In case of a draw or a loss, their chances will depend on whether South Korea manage to beat Germany in the other Group F match. The team won both its first matches in the tournament but has never achieved three consecutive victories in a World Cup .

Trump spoke with three Supreme Court candidates Trump spoke with three Supreme Court candidates Possible nominees being eyed include Thomas Hardiman, who serves alongside Trump's sister on the Philadelphia-based 3rd U.S. Eager to build suspense, Trump wouldn't divulge whom he's talking to in advance of his big announcement, set for July 9.

Vladimir Putin, Donald Trump to discuss ‘complex’ issues, including Syria Vladimir Putin, Donald Trump to discuss ‘complex’ issues, including Syria He gave a similar answer when he was asked if he would lift the sanctions on Russian Federation . We're going to be talking to them about Syria, we're going to be talking to them about Ukraine.

Luka Doncic at forefront for Atlanta Hawks at 3rd overall Luka Doncic at forefront for Atlanta Hawks at 3rd overall He eventually ended up at Alabama and coached here last season when the Crimson Tide played in the Barclays Center Classic. Huerter made 42 percent of his 3-point shots as a sophomore last season at Maryland while averaging 14.8 points per game.

North Korea satellite images show missile plant construction, analysts say North Korea satellite images show missile plant construction, analysts say Immediately following the summit, Trump was quick to claim there was "no longer a nuclear threat from North Korea". Trump reiterated in an interview broadcast today that he thinks Kim is serious about denuclearization.

Russian Federation knock Spain out of World Cup Russian Federation  knock Spain out of World Cup It is unclear if interim coach Fernando Hierro will continue in the post he did not seek before Julen Lopetegui was sent home. It was the classic "tiki-taka" style that led to a World Cup title in 2010, bookended by a pair of European Championships.

Some fans stunned at LeBron James' massive deal with Lakers Some fans stunned at LeBron James' massive deal with Lakers And while he has always been compared to Michael Jordan, Johnson is the one whose game more closely resembles his own. The 33-year-old James is coming off a season in which he averaged 27.5 points per game with the Cleveland Cavaliers .

Some Democrats With Eye On 2020 Say: 'Abolish ICE' Some Democrats With Eye On 2020 Say: 'Abolish ICE' Trump said on Twitter , one of several tweets he made over the weekend supporting the Immigration and Customs Enforcement agency. Immigration and Customs Enforcement agency, which critics say has treated some would-be immigrants cruelly and unfairly.

Divided US Congress votes on immigration reform Divided US Congress votes on immigration reform After weeks of bickering in the Republican caucus, the issue of how to address immigration came down to two votes in the U.S. Democrats were excluded from drafting the measure.

Oil eases on China refining dip, higher US crude output Oil eases on China refining dip, higher US  crude output The U.S. move has put pressure on European and Asian clients to stop importing Iranian oil or doing business with the country. The president has been vocal about his dissatisfaction with oil prices in the past.

U.S. stocks trend higher on softening USA stance for China investments U.S.  stocks trend higher on softening USA  stance for China investments Last month, the White House said that by the end of this week, it would announce tight new curbs on Chinese investment. President Donald Trump has announced the results of a review into Chinese investment in U.S. tech companies.

It's different at club level - Suarez plays down Ronaldo rivalry It's different at club level - Suarez plays down Ronaldo rivalry If they can come through Saturday's tie, they may even start to believe that they can go all the way and win a third World Cup, a first since 1950. "Nine of the players on the pitch for Portugal are European champions, so that speaks of the quality, and we have been preparing for quite a while".

Brazil's Team Doctor Reveals Bizarre Way Marcelo Injured His Back Brazil's Team Doctor Reveals Bizarre Way Marcelo Injured His Back Mexico captain Andres Guardado has urged officials to keep a keen eye on Brazil forward Neymar "because he likes to exaggerate fouls".

Trump tour heads to North Dakota with Senate seat at stake Trump tour heads to North Dakota with Senate seat at stake But on Wednesday, the president accused Heitkamp of voting lockstep with Senate Democratic Leader Chuck Schumer. But, barring some announcement for a North Dakota visit shortly, this sure looks like a snub.

Holders Germany knocked out of World Cup 2018 Holders Germany knocked out of World Cup 2018 It is the fourth time in the last five World Cups that the defending champions have been eliminated in the group stage. They have far more quality than South Korea in their squad and should secure a comfortable victory in this one.

LeBron turned down Cavs' requests to meet about trades, free agency LeBron turned down Cavs' requests to meet about trades, free agency That means that we can finally turn all of our attention to free agency, which is slated to begin July 1. Looking ahead at free agency, there are quite a few reports that have connected James and George.