Canada, India and now the EU…..
Donald IS working HARD to Keep HURTING the American Economy and Certainly NOT Making America Great Again…
Contrary to Trump & Co.’s feeling that America can Gangster the rest of the planet?
THAT ain’t Happening….
And We Americans are just in the stands watching….
Seeing our consumer prices RISE….
As with the numerous business ventures…
Donald IS walking things into a HOLE thatb he WILL walk away from …
Few people remember that Donald Trump the business man was such a mess that the Banks had trouble loaning him money…
Now, he gets to play with and American economy as his Monopoly money…
On Monday India and the European Union concluded negotiations on a breakthrough free trade agreement. Ursula von der Leyen, the president of the European Commission — the EU’s executive branch — called it “the mother of all deals.” That description is somewhat over the top. Yet the agreement is in fact historic and important in ways that go beyond economics. For it shows that the world is becoming ever more estranged from an erratic, abusive United States. In other words, other countries are moving, step by step, toward an economic divorce from America.
Unlike Donald Trump, who thinks of international trade as a zero-sum game, the Europeans and the Indians understand that a free trade agreement between them is a very good deal for both parties. They are two very big economies. Although Trump administration officials like to sneer at European economic performance, the economy of the European Union is roughly the same size as ours. And India, which a few decades ago had a huge population but a small economy, has made massive economic strides and is now a major player on the world economic scene:
And the two economies complement one another. Europe will face much lower tariffs on its exports to India of goods ranging from cars to olive oil. India will gain access to the European market for its exports of labor-intensive products:….
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Furthermore, this is a real trade deal, not some vague expression of intent. It involves measurable, enforceable reductions in tariff rates, regulation of services, and more. This is in striking contrast with the fantasy international “deals” Donald Trump claims to have negotiated. In the Trump deals, other countries have offered vague promises to invest in America – promises that few observers expect to be fulfilled – in return for Trump’s promise not to impose destructive tariffs. Tariffs, I should say, that American consumers, American businesses, and American investors will pay and are overwhelmingly against.
Let me take a minute to walk you through Trump’s fantasy deals. Trump claims that other nations have committed to invest $18 trillion in the U.S., repeating that claim in the economy speech he gave in Iowa Wednesday. Nobody knows where he got that figure. A new brief from economists at the Peterson Institute for International Economics concludes that the announced promises sum up to about $5.7 trillion, less than a third of Trump’s number.
Furthermore, when you dig into these promises, there’s a definite whiff of smoke and mirrors. Roughly two-thirds of the total pledged comes from Gulf oil states, countries that are perennial Trump enablers. As the Peterson economists note, it’s hard to see how these governments can make good on their promises, since “the [Gulf] countries are not currently major investors in the United States, and they do not trade extensively with it.”
The pledges from the non-Gulf oil countries are vague, with no clear mechanism for delivering on the promises. The EU’s pledge of $600 billion, in particular, is almost pure vaporware. This is in stark contrast to the EU-India deal, which is a proper, detailed trade agreement with all the i’s dotted and t’s crossed.
But beyond the economic advantages, there is something of much greater importance happening with the EU-India deal: It’s a major step toward economic divorce from the United States by the major global economies…..
Note…
Trump’s Tariff weapon seem’s to be losing it’s juice….
Other countries ARE beginning to NOT be AFRAID of Donald….
image…The New Republic
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