Economy US-EU deal sets a 15% tariff on most goods and averts the threat of a trade war with a global shock

[cottagecheesefan]

That's cool, you can count it as a win for Trump.

Do you think this is a win for American consumers and businesses?

Yes, they also keep raising outlook of GDP from basically 0, to then 2%, then 2.4%, then yesterday or today, announcing it likely to be 2.9%. I think as the effects of tariffs settle in, GDP will be even higher for Q3 and then Q4.

That is good for business and also indicates a healthy consumer base.

Not to mention job numbers have been better than expected each month, especially with the jobs created going to Americans rather than foreign born labour

 

[WklySportsMemes]

It's a shit deal for us euros.
i'd challenge anyone to tell me what exactly did WE get out of it.
and no rhetorical stuff like "the renewal of trade" or "economic predictability" or other shit like that. i already read EU Commission statements, i don't need more of that wooden tongue.

Maybe you should of spent more time advocating for trade intrests in your OWN country instead of being a low rate propagandist for the foriegn Epstein protector who fucked you and your family on trade.

@Strychnine looks like Sherdog has its very own Leopard eating a Fox's face situation unfolding. Add it to your thread

 

[HomeCheese]

I don't understand how this is good for Americans. Anything I buy from EU will be 15% more expensive, basically an additional tax. I own two BMW's so these would be significantly more expensive now. American business can now be 15% lazier. Our cars are already pretty shitty.

Where is my benefit?

 

[EL CORINTHIAN]

I don't understand how this is good for Americans. Anything I buy from EU will be 15% more expensive, basically an additional tax. I own two BMW's so these would be significantly more expensive now. American business can now be 15% lazier. Our cars are already pretty shitty.

Where is my benefit?

Weren't the tariffs on European Cars higher in the past?

Genuinely curious.

 

[HomeCheese]

Weren't the tariffs on European Cars higher in the past?

Genuinely curious.

I think they were zero.

 

[TheMoa]

I don't understand how this is good for Americans. Anything I buy from EU will be 15% more expensive, basically an additional tax. I own two BMW's so these would be significantly more expensive now. American business can now be 15% lazier. Our cars are already pretty shitty.

Where is my benefit?

you gotta look at the bright side, the resale price should go up

 

[HomeCheese]

Yes, they also keep raising outlook of GDP from basically 0, to then 2%, then 2.4%, then yesterday or today, announcing it likely to be 2.9%. I think as the effects of tariffs settle in, GDP will be even higher for Q3 and then Q4.

That is good for business and also indicates a healthy consumer base.

Not to mention job numbers have been better than expected each month, especially with the jobs created going to Americans rather than foreign born labour

Can you explain how as a US consumer this is a win? I own two BMW's that would carry an additional 15% tax if I was to buy them under this deal while the EU consumer can buy US goods without the extra tax.

 

[Prutfis]

Apparently $28 billion taken in this month and still counting. This year now up to over $150B in tariff revenue.

If they can keep this up, along with do some more recessions, might actually be effective at taking on the deficit

Bragging about taxing americans an xtra 150b. Bold strategy Cotton

 

[SandisLL]

I mean, precisely if you want to enter the US market, the current tariff structure makes it cheaper to produce goods in the EU or Japan, then export to the US.

Why would I pay 30-50% on all my manufacturing inputs when I could just pay the 15% tariff to export to the US?

You are still accessing the US market, but you don't have to pay the even higher tariff on all your inputs.

Tariffs are paid in the end by end consumer not " countries ".

 

[SandisLL]

You can't produce steel without first building the manufacturing, which takes inputs that need to be imported. You can't even mine the iron ore without external inputs if it the capacity already doesn't exist, and it doesn't.

EU does have best iron ore for stainless steel manufacturing in this world...due to natural addition of some legging metals in iron ore...especially Sweden btw.

Coal coke, there isn't good situation.

Aluminium: EU is net aluminium raw metal importer cos doesn't have enough cheap electricity.
Iceland, Canada and NZ and Russia does have....enough cheap electricity.

To get aluminium from ore does require a lot of electricity so cheaper electricity = better...for this task.

When aluminium is produced, further processing is lesser energy intensive.


Steel production from europe more interesting for U.S businesses are rare sorts of stainless steel not mainstream production.
Due to transport expenses it is too expensive transport from europe to U.S mainstream, most common steel sorts.... it was also 20 and 30 years ago....the same.

 

[wlu.29]

Yes, they also keep raising outlook of GDP from basically 0, to then 2%, then 2.4%, then yesterday or today, announcing it likely to be 2.9%. I think as the effects of tariffs settle in, GDP will be even higher for Q3 and then Q4.

That is good for business and also indicates a healthy consumer base.

Not to mention job numbers have been better than expected each month, especially with the jobs created going to Americans rather than foreign born labour

What about in terms of paying more for the products and services

You call it revenues in an explicit attempt to avoid saying taxes that will be paid by American consumers

 

[badascan]

I'd like to hear what the usual perpetually wrong gang think about this! ... Just kidding, they're wrong... Is this it?

 

[cottagecheesefan]

What about in terms of paying more for the products and services

You call it revenues in an explicit attempt to avoid saying taxes that will be paid by American consumers

Inflation is way down for most things. What tax increases are you referring to?

 

[SandisLL]

This looks like more grandstanding to me this agreement isn’t even legally binding , to me looks like that lady just wants the meeting to be over ,she knows he’ll be out of office way bf these deals even are realistically possible.

• The $750 billion energy purchase is ambitious and potentially unrealistic: Analysts have expressed skepticism about the feasibility of the EU meeting this target, as it would require a nearly tenfold increase in US energy imports and significant infrastructure adjustments in the US, according to The Wall Street Journal. Furthermore, private companies, rather than governments, primarily make energy purchasing decisions within the EU, based on market prices and demand rather than political directives.
• The 15% tariff may impact European exporters: While the EU has committed to buying more US energy, the 15% tariff on most European imports into the US may negatively impact European businesses, particularly those in sectors like automotive, industrial machinery, and agriculture. Some companies may consider absorbing these costs to maintain market share, while others may pass them on to consumers, potentially leading to higher prices in the US.
• The long-term effects are uncertain: The agreement is still in its initial stages, with many details yet to be finalized and potential challenges ahead in its implementation.

It would take at least a decade to make this work under Trumps current policies and that’s if he hasn’t put a good major of businesses out of business .

What’s actually going on .

EU's $250 billion-per-year spending on US energy is unrealistic

The European Union's pledge to buy $250 billion of U.S. energy supplies per year is unrealistic because it would require the redirection of most U.S. energy exports towards Europe and the EU has little control over the energy its companies import.

www.reuters.com

Industrial machinery is imported from european comapnies only if it is difficult to replace...
Agricultural production europe might even not sell for U.S at all. World is large and there isn't stuff like it had been worth to ship to U.S something low quality shit in low demand. Transport expenses are too high. Stuff is with enough demand in other countries too.

All these parfume, alco, Porshe, Ferrari etc stuff: it anyway never was mainstream stuff, more for clients willing to prove that they might afford to pay etc....yes...that they aren't random mainstream ppl but something more successful, with possibly higher net worth etc... bragging tools..

Some from auto companies in europe does have U.S businesses shares in stocks % etc too...

LNG and crude oil shipment contracts had increased not only with U.S, also with Gulf countries etc etc ....after Lavrov 2022 th threats to cut off supplies and other shit they had yelled 24/7 mode months in row....

 

[SandisLL]

I think they were zero.

No. From some 3 till 30% depending from car class etc...

 

[lsa]

Inflation is way down for most things. What tax increases are you referring to?

Who do you think pays the tariffs?

"A tariff or import tax is a duty imposed by a national government, customs territory, or supranational union on imports of goods and is paid by the importer. "

Its not the EU or other countries.

 

[SandisLL]

What about in terms of paying more for the products and services

You call it revenues in an explicit attempt to avoid saying taxes that will be paid by American consumers

Yes, end customer will pay. Not mythical europe.
With metal and metal manufacturing in europe mainly are working international private owned corps and holdings etc....not gubbermints..... like in U.S too.

 

[TheMoa]

What I have been reading this week is that EU folded on the trade deal in exchange of Trump putting more pressure on Russia, more sanctions on allies and more weapons for NATO.
I'm thinking this war will be economically worse for Europe than to heavily sanctioned Russia.

 

[HomeCheese]

No. From some 3 till 30% depending from car class etc...

It's not like I'm gonna buy a Ford now. American manufacturers already had a quality problem and now they can be 15% lazier. I don't see how this works for me.

 

[Cole train]

What I have been reading this week is that EU folded on the trade deal in exchange of Trump putting more pressure on Russia, more sanctions on allies and more weapons for NATO.
I'm thinking this war will be economically worse for Europe than to heavily sanctioned Russia.

Eh depends what Naibulina comes up with

She said like a month back that all resources are drying up but shes a genius so who knows.