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IMF reports that the country to be worst hit by the trade war is the USA
The EU is reporting traders are lining up to work with the EU in order to get away from the USA. This will also see President Von der Leyen meet with Xi Jingpin. As mentioned in another thread, since the 10th of April the dollar has fallen by almost 20c while the Euro has risen by the same amount in the same period.
Auto groups have join forces in a rare display to lobby against Trump's tariffs. It's basically the car equivelent of that time Trump ordered the wrong dam opened because he thought he could flood LA to put out a forest fire. This
The group – representing franchised dealers, suppliers and nearly all major automakers – say in a letter to Trump administration officials that the upcoming levies could jeopardize U.S. automotive production. The letter notes many auto suppliers are already “in distress” and wouldn’t be able to afford the additional cost increases, leading to broader industry problems.
“Most auto suppliers are not capitalized for an abrupt tariff induced disruption. Many are already in distress and will face production stoppages, layoffs and bankruptcy,” the letter reads. “It only takes the failure of one supplier to lead to a shutdown of an automaker’s production line. When this happens, as it did during the pandemic, all suppliers are impacted, and workers will lose their jobs.”
US markets live: US growth forecast to be hit hardest from Trump tariffs, IMF says
The International Monetary Fund says US tariffs and market uncertainty will lead to a significant worldwide slowdown.
www.bbc.com
The EU is reporting traders are lining up to work with the EU in order to get away from the USA. This will also see President Von der Leyen meet with Xi Jingpin. As mentioned in another thread, since the 10th of April the dollar has fallen by almost 20c while the Euro has risen by the same amount in the same period.
Von der Leyen: World is ‘lining up’ to work with Europe amid Trump’s trade war
In exclusive comments to POLITICO, the European Commission president touted the EU as a safe haven in an unpredictable world.
www.politico.eu
Auto groups have join forces in a rare display to lobby against Trump's tariffs. It's basically the car equivelent of that time Trump ordered the wrong dam opened because he thought he could flood LA to put out a forest fire. This
The group – representing franchised dealers, suppliers and nearly all major automakers – say in a letter to Trump administration officials that the upcoming levies could jeopardize U.S. automotive production. The letter notes many auto suppliers are already “in distress” and wouldn’t be able to afford the additional cost increases, leading to broader industry problems.
“Most auto suppliers are not capitalized for an abrupt tariff induced disruption. Many are already in distress and will face production stoppages, layoffs and bankruptcy,” the letter reads. “It only takes the failure of one supplier to lead to a shutdown of an automaker’s production line. When this happens, as it did during the pandemic, all suppliers are impacted, and workers will lose their jobs.”
