A Trade Update

We all have heard or read or watched the game being played with international trade…….BAM!  Trump has levied tariffs on international steel ans aluminum….and then the president goes to the G7 and blows up everything…..

First floated the idea of scrapping all tariffs……

President Trump reportedly asked world leaders at the Group of Seven Summit on Friday to consider “no tariffs” at all amid growing tensions over the administration’s trade moves.

Politico, citing officials who listened and took notes of the discussions, reported that Trump told assembled world leaders that “we should at least consider no tariffs, no barriers — scrapping all of it.”

(thehill.com)

Did I miss something?

After saying that nugget……Trump threatens to end ALL trade……

Leaving the G7 summit on Saturday, President Trump said that the U.S. might end all trade with America’s closest allies if those countries don’t submit to his demands over reduced trade barriers. Trump also confirmed that he had told the leaders of Britain, France, Germany, Japan, Canada, and Italy that there should be no tariffs between them and the U.S. of any kind. Whether Trump’s characteristically hyperbolic threat, or overarching proposal, will be taken seriously is another matter.

Referring to what he called “ridiculous and unfair” tariffs on U.S. imports, Trump said, “It’s going to stop — or we’ll stop trading with them. And that’s a very profitable answer, if we have to do it.”

http://nymag.com/daily/intelligencer/2018/06/trump-threatens-to-end-all-trade-with-allies.html

Okay what part of any of that sounds like something that would be taught at the Wharton school?

Why did he waste time pissing everybody off?

BTW just a reminder where the trade goes here in the US….

Then there was some good news (at least for me)….

Before I begin let me say…..my more Right leaning brethren have accused me of hating our president, Donald J. Trump.  They are mistaken I may dislike the man but I hate very few people.

With that said there are a few policies that Trump espoused that I could agree with….some of his campaign thoughts on war and foreign policy and a few domestic things…the problem is that when he became president he back peddled on the ones I liked….that fed my dislike.

Everyone knows about the trade war that Trump is about to start with the rest of the world, right?  Well he has made a statement that I fully agree with….he has said that he wants to ban German luxury cars.

President Donald Trump is hoping to effectively ban sales of Mercedes-Benz, Audi, and other German cars, according to reports from a German magazine.

A report in WirtschaftsWoche cites unnamed diplomatic sources who say Trump told French president Emmanuel Macron he would maintain his trade policy “until no Mercedes models rolled on Fifth Avenue in New York.” The trade policy would seemingly affect any German automaker, though, putting sales of Porsche and Volkswagen (and its Audi luxury division) at risk as well as Daimler.

Trump has long held a hardline position toward German automakers. Last January, he underscored this in comments that appeared in the German magazine Bild.

“When you walk down Fifth Avenue, everybody has a Mercedes-Benz parked in front of his house,” Trump said, according to a Wall Street Journal translation of the comments. “You were very unfair to the U.S.A. It isn’t mutual. How many Chevrolets do you see in Germany? Not many, maybe none, you don’t see anything at all over there. It’s a one-way street.”

(yahoo news)

This will not sit well with the pretentious twats that own one of these cars….I say let these self-centered slugs buy American.

Since I am an Italian sports car enthusiast, Ferrari, Maserati, Alfas I cannot disagree or fault Trump for his vendetta against the Germans.

Let me leave you with a small joke…..

What is the difference between a porcupine and a BMW?

A porcupine has all the PRICKS on the outside.

(rim shot)

Not to worry if you are wealthy enough for one of their pieces of scrap metal then you will find a way around the ban…..they always do.  Their money will buy lots of privilege.

More bad news about these new tariffs….economist say that the dollars saved by people because of the tax cuts will be taken away because of increase in prices…….

Your trade moment is done….I return you to your regular reading habits….

Be well, be safe…..chuq