"They have sparred over whether sales of Chinese-made solar panels in Europe amounted to dumping. At a meeting last year, they failed to issue a joint statement on climate change because they disagreed on whether China should be considered a “market economy.” The designation would entitle the country to preferential treatment before the W.T.O."
Oh that one's simple. China's a market economy, with none of that pesky copyright or patent or trademark law to worry about—until the market dares allow people in China or its hostage territories (Taiwan, Tibet, HK...) to have freedom or speak less than hagiographic about Winnie the xi Bear.
Then it becomes an authoritarian horror, both for the people and commerce.
Of course US megacorps ought to make more stuff for the US in the US, and ditto for Europe, that both enjoy quality products made with meaningful labor laws. But killing those labor laws and trying to start trade (and actual) war with xi, as "covfefe" continues to do, is far from the way to do it.
Once we replace the occupant and his GOP collaborators with a 45th President and the Sane-ami, the latter must work in open defiance of the New and Improved™ ShamCourt® and its new Thief Justices to restrengthen labor laws and finally impose prison on stingy, creepy, and thieving megacorps, like H1Bers, Facebook, and Wells Fargo respectively. When the ShamCourt rejects sane law as unconstitutional, the two re-sane-ified branches must call their illegitimacy out every time.
Well, at least we still have Russia. There is that.
And that, my fellow Americans, is what winning looks like! We’ve officially become the United States of Whatever.
1
The rise and fall of the US will look a lot like the rise and fall of GE with the narcissistic CEO Trump playing the role of narcissistic CEO Welch. Malignant self-aggrandizement doesn't end well in the long term.
2
These deals show what true negotiation can achieve. The US will suffer and will then go hat in hand for the crumbs. The international community has no respect for Trump - they do for the US / just not this angry, old, white man. We are governed by the likes of Rand Paul who sounds like a ventriloquist’s dummy - spouting Trump doctrine - a cheap date - golfing with Trump and maybe a free membership.
See, the EU IS a foe.
Trump is setting the stage for a major recession and if that happens before is he put out of office he won't know how to deal with it. Maybe start a war.
When Trump finally sees this on FoxNews, Japan will be the new enemy...
The GOP know how to make America great again . The GOP and their religious supporters are really reaping what they sow and they deserve it. Maybe if they hit rock bottom that will stop them from voting for failure GOP leaders. They had in 1932 voted for tariffs against our allies. Smoot and Hawley GOP got the tariff bill approved . With so much anger from our allies and Americans they were voted out next year. I hope future GOP use there heads and not bring back failed policies.
5
It is good to see that the rest of the worlds leaders in liberal democracy are able to get together and work around the US and its current political psychosis. However, trust is easy to break and hard to rebuild. I doubt the US can simply vote Trump out and slip right back into its former "leader of the free world" role. The fact is that he was democratically elected in spite of his obvious incompetence and a large % of American voters still support him. Even worse the congress which is supposed to be the checks on this kind of dangerous incompetence has proven unable to fulfill that role. About 85 years ago 33% of the german voters cast their vote in favor of Hitler and his authoritarian party in the last free election before WW2. Germany is still looked upon with suspicion by many of the other European countries.
22
Know who I feel really sorry for ? America's next President ( assuming there is a next one). What nation in its right mind will want to sign a deal with an American after this nightmare with Trump?
19
This is EXACTLY what Putin wanted Trump to do: destabilize the West. I expect a new invasion in Eastern Europe by Russia.
15
Americans are fairly bad at understanding the world outside their borders, but one statistic is more important than any other, because wealth comes and goes as history marches on. We are now less than 5% of the Earth's population. As the century progresses we'll continue to shrink. Our wealth came from trade with all those other people, but why would anyone think that they have to trade with us? Especially if we're calling them our enemies and seeking to punish them? The Trump administration's trade policies are not based on reality, they're based on a desire to control other people — this is not sane. The administration is pushing us towards collapse and a near future dystopia as a world pariah.
22
Simply put, it's no longer practical or desirable to go it alone in the global economy any more. Trump and his advisers are either looking backward to the 1950s or they're simply looking out for their own interests. By loud, obnoxious word or hostile deed they've destroyed any influence we have had in the world. Not America First but America Isolated will result from Trump's sadly mistaken policies.
12
Europe should prepare to defend itself if it continues to cheat the U.S. on trade and military.
2
EU and its social fiscal policy has a place to go without short-sheeting NATO--not.
1
WINNING !!!!! Thanks, GOP.
4
I guess this agreement will benefit the 80,000 white americans that voted for trump/Putin in the three states that "tip" the election in his favor. How is that for trump/Putin improving your lives financially?
8
Trump keeps referring to America and her allies ( former ? ) as 'stupid.' Well, Europe ain't stupid. They are finding other allies and partners. Somebody should explain to the American President that Nature abhors a vacuum.
18
It's almost as if Putin had planned all this... oh, wait.
19
TREASON......what has caught my attention in the news is that our President has committed TREASON. About the only positive thing Trump has accomplished since stealing offive is that he hasn't destroyed the jobs creation that Obama began in 2010 and which continues to this day. Other than that, we have a traitor to our nation in the White House.
8
The EU-Japan trade deal seems like a pretty rotten deal for the EU. No wonder, there is such dislike in Europe for the clueless EU bureaucrats in Brussels.
The population of the EU is four times as large as Japan. Furthermore, the EU population is projected to grow, whereas the population of Japan is projected to plummet over the next 20-30 years. So, Japanese companies get free access to a huge and growing population of over half a billion people, but European companies get access to an aging Japanese population which is projected to shrink to less than 90 million in the next forty years. More than a quarter of the Japanese population is already elderly and it just gets worse from here - hardly an attractive market for European cheese and wine.
More importantly, the real problem with the Japanese market is its systematic and extremely effective system of non-tariff barriers. This, combined with the deeply embedded economic nationalism of Japanese consumers, makes Japan the most closed developed market in the world. Trade agreements are notoriously ineffective in addressing such non-tariff barriers. There is good reason why foreign retailers like Tesco and Carrefour have left Japan in recent years and why Walmart is planning to sell its Japanese unit. The EU-Japan deal will not change Japan's closed distribution system and is going to do little to open the Japanese market. As an American, I can only hope that the U.S. does not follow the EU's example.
2
I welcome a free-trade pact between the EU and Japan, because if Europe is tied to Japan then the EU will be less likely to sell Japan out to the Chinese. This is a real and significant concern with the EU. Many of these EU countries joined China's development bank, the same development bank that is designed to compete with the ADB (Japan's development bank). As China continues to rise the risk that the EU will choose China's market over the fate of Japan's democracy will rise with it.
Curious, however, that the EU and Japan adamantly refuse to sign any free-trade agreements with the United States.
4
The NATO is more than just guns, it is a common system of values.
This obsession with military spending is distracting from one big american deficit - the social spending.
Trump can claim that europe does to little for it's defense. But if you compare the money saved with the money spend on social security, you will realize that europe in fact has much less money for a trade advantage. The americans are dumping wages, dumping their own people, not the europeans.
I could return a demand, that a country, that will give the NATO a moral standing, does not let their own citizen live in squalid conditions.
11
@Mathias Weitz
Trump or no Trump the American president would be demanding that the EU countries spend more on defense. Why? Because we can't have a toothless NATO that is incapable of stopping the Russians. We need NATO to be able to stand up to Russia so that we can complete the pivot to Asia and get ready for the ultimate showdown with the Chinese.
This is a process that started under Obama and it is probably not something under Trump's control. The pentagon is probably running this particular show.
1
@Purity of Essence
There was a deal being talked about where Russia would agree to put pressure on Iran to withdraw it's forces from near the Israeli border in exchange for a de facto recognition of Russia's Ukrainian gains by Trump. I'm not sure if it happened or not. We might find out in the coming months.
It is as if European border security was potentially being bartered away for some desert rocks and a presumably a large bribe for Trump. I'm not sure that the Europeans have yet woken up to the reality of who will be pulling the strings if they don't support their eastern border countries with the appropriate defense mechanisms.
@Purity of
See here https://www.nato.int/cps/ie/natohq/news_152830.htm
NATO Europe is spending 250.000 Million versus 66.000 Million of Russia.
NATO Overall 1.000.000.
These figures clearly show that NATO already today invests a ton more into the military than Russia’s doing.
If Germany would spend 2% it would spend more than Russia. In view of History this would be a rediculous sign.
But the OP was talking about a different thing, that has nothing to do with military and there he is correct.
4
The United States is being sold out so that trump can open a hotel in Moscow. It’s not the Europeans who are losing a way of life.
7
No surprise here. They had no other option other than toe to Trump line. China and India are the future economic and technology powerhouses of the future. We are the declining power. Besides...would the USA really sacrifice to a nuclear attack by striking back and risk losing NYC, or Boston? Charles de Gaulle was probably in his assessment of NO.
3
India ??? dream on!!
Trump has announced he is running again in 2020. In order to win in swing states again, he undoubtedly will need government price supports for soybeans, cranberries and corn, mandatory use of coal in all government buildings for heating, declare Kentucky bourbon as the national beverage and insist all government workers wear American-made blue jeans.
Congress will approve and bring back Freedom Fries.
Such actions wouldn't not make America great again. Confeve!
11
Europe needs to tend to its own house first. The EU is teetering on the brink. It is a flawed plan that benefits mostly the Germans and really crucifies the young and the working class everywhere else especially in the Mediterranean nations. Young people will take only so much more before pulling down the whole ridiculous contraption.
2
Whataboutism 1.0.
2
@Navigator
I think by closing deals like this one they are actually "tending" quite perfectly to a new political situation.
I have heard the story of the collapse of the EU/Euro many times only to see the Euro rising against the US-Dollar.
B.t.w. that "ridiculous contraption" has created a common market of 512M people, being able to move around, do business or work in 28 countries without any restrictions. A GDP greater than the US. Do you seriously think a halfway educated person would want to give this up? Only a dumbed down, by Murdochs mercenaries, electorate would fall into this trap.
8
Not even on a personal level, but business level, but if my supposed allies continuously berated , ridiculed, threatened me , I would go looking for better friends. Diplomacy, statesmanship are not part of this administration. Silence, inactivity speak loudly from this GOP.
22
The damage that Trump has and will do is yet to be seen and felt . It would be foolish for the EU not to move on ,trade may not be on the scale done with the US , but leaders and their countries learn that nothing remains static and act accordingly . Unfortunately , actions have consequences and both the citizens of this country and the EU will find that out soon enough . The EU may lose some but we will lose more when this feckless man is through .
10
The timing of this with Brexit is sort of eerie, pushing us even closest together since the time we went to war with them to be free of them. It’s like we’re coming full circle as a new nation. Sort of sweet in a way, really. Hopefully the Japanese will be nicer to the Europeans than they were to the Koreans and the Chinese.
1
The depressing part is Trump's supporters still labor under the delusion that Trump was ever a successful businessmen. They are watching this in slack jawed awe waiting for Trump to pull off some masterful chess like maneuver. They truly think he is a character that he played in a reality show. They don't get that he is a FAILED businessman but a moderately successful con man and crook. He's still terrified of his tax returns being disclosed. He has never have a real physical and mental fitness exam since his "doctor" admitted the report submitted was a fraud. He's a HORRIBLE businessmen. He's not playing chess. He can barely read. It still hasn't sunk in yet.
31
The make America Great Again president is courting new partners too:
1) Russia
2) China
3) North Korea
I wonder if trump realizes there would be no need for NATO if it wasn't for these three Communist Countries (under putin, russia is)
Wake up America!
9
Russia is NOT a communist country. Period. It is a capitalist oligarchy. Exactly where America is headed.
13
America is a country of dummies who bought a lot of things and can easily be replaced.
11
To para-phrase a story in Australian media in 2016:
Australian diplomatic and trade representatives went to meet with Trump people prior to the election. As custom has it, they also meet with Clinton's team.
In the meeting the Australian team, perplexed by all the trade bravado at his rallies, the Aussies said to the Trump team...'just so you are completely aware......you do know we don't actually need you?'
Basically, this is not pre Asia-boom. It is not to criticise America, it is not to say we don't want to be friends....but when it comes to trade...the world is incredibly plentiful with vast opportunities. Do you realise what you are doing.......to YOURSELF?
12
Europe will now look within for some of it's defensive needs, to insure a secure supply chain of armaments in the event of a shooting war.
A question Europe has to ask is if Trump would cut off munitions if Russian troops were on their territory.
Countering Russian access denial strategies without American help presents a challenge.
Any number of reports have stated that NATO nations lack the munitions for a two week war.
Watch China appear as a savior, at a price.
2
Lets hope this is not the repeat of the first Anglo-Japanese Alliance of 1902 which started the Japanese invasion of Asian countries and later the Peral Harbor in December, 1941. China and Korea both north and south must be worried about this new alliance from an aggressive Asian country with an European declining power. Two island countries always trying to team together during difficult times. But China and North Korea now are not as vulnerable as in early 20th century. China is not worried about Trump but more worried about prime minister Abe. I grew during WWII so I always remember how powerful Japan was.
1
Trump asked EU to reduce their tariff on goods imported from America to reduce huge trade imbalance. If they don't like it, they are free to go to other places to do business. But, does it the sign of good allies? Their resistance to fair trade and to increase military spending for their defense is not the sign of good allies, but the allies who just want to exploit American generosity. America cannot afford such generosity anymore. These so called allies may be swift to become a foe as soon as they realize that they won't be able to exploit America anymore and as their politics change due to more immigration from other cultures.
4
The US isn't generous and never has been. We are not victims. We are the richest and most powerful country in the world, and we almost always get our own way. So please ... a little critical thinking is in order.
19
“We are the richest and more powerful country in the world “
Maybe that’s because many European countries prefer to spend less on arms and more on their citizens. Besides military spending and gun related deaths, American is behind Europe in almost every conceivable category.
15
The key to free trade for Western countries is quality. Engineer to standards that low wage countries can’t reach yet and sell those products to their rising middle and upper classes. Germany and Switzerland have a trade surplus with China. Protectionism and lax emission, quality, safety, ... standards will encourage big American companies to become even more complacent. Trade barriers can bring jobs back but we need to raise our product quality and safety standards like in Europe so we can one day trade more competitively. The difference between the US and advanced EU countries is so stark and immediately visible: no ugly power and utility lines above ground, modern and fast public transportation, no potholes, no costly HOA fees to keep poor build quality houses up etc.
13
And how is this bad...
Overall, trading increases wealth - it's just that it's been badly misused by some US entities to arbitrage labor, or keep us competitive globally in some really high-tech segment...
Like soybeans...
All of France, Germany, and Japan have far more enlightened policy, regarding keeping their people skilled, employed, and globally competitive - than does the US...
Let's see what they do - and how they do it...
PS
Immigration does have its role - as in the French soccer team...
But looked all around for their policy ensuring racial and ethnic diversity for the team - and couldn't find it...
Appears to be a Darwinian meritocracy - Orban and Erdogan are green with envy...
With regard to a headline in a different article, it's not "Russian meddling." It's an attack on the United States, an attack on NATO, and an attack on democracy. "Meddling" is something quite a bit less important.
Stop using this euphemism. Any publication that does is falling short of publishing the facts.
5
Because of the cretin we have for president, we are going to regret greatly what he has done to us. Perhaps we deserve this because, apparently, no one really cared enough to look out for what we are so fortunate to have.
6
"As Tensions With U.S. Worsen,"
Why do you start an article with a bald faced lie?
Zero credibility. Fake news.
4
Please elaborate your comment. You say the article is fake news, please explain.
13
This is George Orwell's shtick, as his nom de plume would suggest. He supports Trump with lies, much as Trump supports Trump. Never seen him say anything based in reality.
5
Let them "court." They will come back begging on their knees.
2
Steve: This is the kind of arrogance that will ensure that other nations will continue to look elsewhere for partners who value, instead of denigrate, each other. American exceptionalism no longer exists, except to the extent that your country is led by an exceptionally inept, rude and dreadful president.
22
Lol! That will never happen. But anyways, Europe is already on her knees, crying with laughter....
drumpf is creating an us against the world situation. That has never been the case before and despite our wealth and power, we cannot take on the entire world. Russia and China are not our friends, either. Either of them would pounce on us in a flash if it benefited them in any way. The only "kneeling" we can count on is more of drumpf's kneeling before his lord and master, putin, like what we saw yesterday. Btw, your attitude is cringeworthy, to say the least, and is representative of all that is awful about this country nowadays. Ugly arrogance is largely responsible for the mess we're in today.
4
Trump's tactics could have worked thirty years ago. Now there are too many 2 trillion economies in the world. Just Germany & Japan (on the hardware side) and say India (on the software side) can pose a credible $7.5 billion economy against the US $9 trillion economy. And that's not even on PPP terms. As exchange rates adjust with a falling $, it will be a more level playing field for the rest of the world. Single superpowers are not good for progress of humanity. It's not about which country anymore, but which country / peoples are willing to adapt and evolve. Others will get left behind. Israel, Italy and UK better watch out ... if they want to suck up to the US and imitate them. They will find that this is no longer the 20th century ... the hard way.
3
THIS will be one long term legacy of the Trump debacle. America will have secondary standing in Trade, and earnings. Congratulations, Trump fans. You've throw us all towards the bottom of the heap. Enjoy.
11
This is a quick lesson for all other countries. If you missed other history lessons, watch and learn!
4
Only three leaders inspire dread in the modern world: Putin, Jinping, and Trump. The rest are satellites, sovereign only under protectorates. Obama neglected Europe because he knew they had no place to go, so he could take them for granted. Trump dispensed with pretense and read them the riot act. Wanna-be's will now fall in line--or else. Infested with internal Tea parties, a leering Putin just over the horizon, Europe has lost freedom of action, as forces collude which she is helpless to resist. They allowed themselves to be seduced by the vision of a secular kingdom of god on earth, where the leaven of benign bureaucracy would make impossible the clash of imperial egos. Now they quake under the menace of Putin, and feel helpless to resist the demands of the Protector. They bled themselves to death in the last century of murder, and will now go the way of Athens and Sparta. Their shell-shocked stupor bears witness to this brutal reality.
1
I mean, who can blame them? I fear the only thing the rest of the world can now count on the United States for, is every four to eight years we will vote into the White House someone who doesn’t belong there.
For every Clinton and Obama, (good/repaired economies, intelligent nuanced foreign policy) we get a W and a Trump.
This pattern will continue, the world is exhausted from the collective whiplash generated by a feckless American electorate. Maybe it’s time to leave us to our own schizophrenia.
4
RE: President Trump is inciting a trade war, undermining NATO
This is exactly why the main steam media is distrusted and held in such low esteem.
The Europeans countries which don't meet their NATO spending targets are undermining NATO not the US. Trump asked them to start paying up and the NYT and Wash Post and rest of the main steam media went berserk about how poorly he was treating our allies.
Well here's a new flash: Europeans are not our allies. They are DEPENDENTS. Since WWI it's been a century of a one way flow of lives and money from the US to Europe to bail them out. Calling them allies is laughable.
1
@Reader In Wash, DC: Putin couldn’t have stated it better!
3
I mean, who can blame them? I fear the only thing the rest of the world can now count on the United States for, is every four to eight years we will vote into the White House someone who doesn’t belong there.
For every Clinton and Obama, (good/repaired economies, intelligent nuanced foreign policy) we get a W and a Trump.
This pattern will continue, the world is exhausted from the collective whiplash generated by a feckless American electorate.
8
@MarcAnthony Brussels best show is to hand the whole thing over to Germany.
1
This story is highly slanted, Europe has always had trade agreements with each of the countries discussed and many more. Europe has always negotiated its own deals and continues to do so. It is presented here as if this is all new and tappered to present evidence of the Trump rif. Nonsense.
7
The Republican Party gerrymandered the House, stole the Supreme Court and the Presidency, and now control all branches of government through a minority of voters.
They have since abandoned our allies, cuddled up to our enemies, praised racists, extended tax breaks to corporations and billionaires, kidnapped and imprisoned children, stripped environmental protections, and neglected healthcare, infrastructure, national security, and education...
Russia is only America's second greatest threat...
First (by a long shot) is the Republican Party.
17
..., while it may sound unfathomable, potentially the EU should be thankful for “the collection of unforeseen events” caused by the current American president, and the somewhat inconceivable American grand strategy now in-play.
Strange as that may sound, apparently a catalyst was needed to “reimagine structures”; sovereign state grand strategy, international relations, security, trade etc.
Most nations will focus on survival first, then on sustainable wellbeing and then “the greater good”.
The EU potentially fell asleep at the wheel thinking that “it’ll all work out because it has always worked out”.
Sometimes that’s not the case; the times seemingly have materially changed.
Brave new world indeed.
2
New Zealand is gaining from USA trade wars and for a small nation, with a small population, it's all good. Do a web search of this phrase -
China issues U.S. travel warning amid trade tensions
Also, great graph showing Chinese tourists to NZ have increased 4% in 2018 and that Chinese tourists to U.S.A. have decreased by 6% in todays NZ Herald.
www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12090520
10
It would be so much simpler if things were just run out of Berlin; instead of Brussels. Then Merkel could get rid of all the borders just one big nation run out of Germany.
1
It's so good to be winning again! Thank you Donald Trump! Destroying our local businesses and breaking what we thought were the impenetrable bonds of friendship forged through nuclear war and the collective loss of millions of lives.
What a complete imbecile this man is, and the entire Republican Party - except for a few hardy souls we can count on one hand - is complicit. November cannot come a moment too soon.
7
The US Government has no friends. It only has a leader it is beholding to. Congrats to Putin on his victory. I hope the scraps his lap dog gets are worth destroying the US over.
4
Trade between the US and other countries won't matter once the Russians, Iran, NKorea, and China destroy the US infrastructure with their hacking. tick tock … tick tock.
5
Who knew other countries would leave the US in the dust and team up on trade? Everyone but Trump!
12
Europe, please be patient. We will correct this horrendous mistake in 2020.
5
England was our worst enemy during the revolution. Germany, Italy and Japan were our worst enemies during WW2. Russia was our ally during WW2. Friends and enemies change partners as often as if they were dancing Turkey in the Straw. It never hurts to have friends, the more the better. If you do not trust Russia, you can be sure they do not trust you-hate begets hate. This President has dared to try to bring peace and members of his own party, and the Democrats oppose him-instead of helping. SHAME
Russia is one of the slimiest countries in the world. God help any country that allies with Russia.
3
Isn't this exactly what nationalist populists want? They want to withdraw within their borders. They want to have nothing to do with anyone outside of themselves, but particularly anyone not like them. Isolationist. It is almost cruel to call them bigots. Almost. They are a simple people, almost childlike, but dangerous because their immaturity has festered. Afraid of anything that is unlike themselves. Surrounding themselves with arms and armament and defying the rest of the world to come near them.
2
Seriously. What did you expect other countries to do? They are now trying to have trade agreements with more stable and reliable countries. Once that happens, why would they bother setting up shop in the US? And this will hurt the Red states the most.
3
Like a woman who found love after abusive husband-good for them.....
2
In business, long-term relationships with stable partners are valued. Once businesses find alternatives to working with companies in the US, it will take a long time for the US to earn that trade back, even if sanity returns to US economic policy. Sadly, the damage will continue for long after Trump has left office. I find it very strange that business-minded Republicans have done nothing to try to stop this catastrophe.
9
This is a very good sign. It's time for the EU to stand on their own two feet.
3
The only way that the richest nation can have equality in trade with other countries is by buying less or lowering wages.
Buy less we don’t needs more stuff. Bring on The tariffs
This is how every great power has fallen from the summit ... arrogance. The world needs to cut the US down to size, so there can be a more balanced perspective on world affairs. This allies business needs to stop and each nation, race, creed has to have its say in a democratic process. Japan has waited patiently and is a leader in technology, hardwork, and discipline. Kudos to the EU for looking outside their comfort zone.
8
@Kannan
The Mouse Chorus: "Who will bell the cat"? Right is might only when might wants it to be.
Yes the United States consumes a huge inventory of the worlds products and also the largest economy in the world but these attributes are results of great economic planning and diplomatic overtures to the extent that the United States has strong leverage over most sovereigns all over the world. In the same manner these strengths can also be diminished by bad governance, we must understand that the United States also sells products to other countries of the world and they enjoy a stream of revenue coming back home. My point is that the United states is only one country out of many and they also need relations be it trade or diplomatic, care must be taken not to destroy strong alliances and revenue streams which can undermine the economy of the United States.
6
This is a warning. Even without other European and Asian countries, Japan and Germany are the world's #3 and #4 largest economies. The world's economic order had revolved around the United States for half a century, but it wasn't always thus and it won't always be thus. We were already being faced the challenge of adapting to a world where China and India are inexorably growing to take center stage. But now, thanks to Trump, the world's economic order is already starting to re-arranging itself, looking for ways to move around and past the United States. If we keep our heads stuck in the sand as Trump wants us to, by the time we pull our heads we might find the world has moved on without us.
16
Trump's USA is lashing out at the world, attacking and self promoting and essentially telling everyone to "lump it" and accept our boorish behavior.
Looks as though the world is beginning to figure it's best to move in other directions, Yes, the US economy is the largest in the world, but the hit will soon be felt and we may not be so smug when it comes.
12
Trade deals are not all the same. They have terms. Those terms make a huge difference.
So what are the terms of this new deal?
They are certainly not the terms written for their own benefit by the American insiders who crafted the secretive TPP deal.
Are the terms more fair to Japan than what the US had before with the EU? From what we are told, yes they are.
We certainly do need trade deals. Trade is good.
However, not all deals are well written, and not all trade is good on any terms. They are not all equal.
@Mark Thomason
"We certainly do need trade deals. Trade is good."
What a bold position and a generous concession!
Can we go even farther? Perhaps trade wars are not, in fact, good an easy to win? That perhaps instead of smashing TPP, smashing NAFTA, there might have been better ways? That Donald Trump's way is not an elixir cure to supposed globalist trade conspiracies designed to rob America? Perhaps, as those awful neo-liberal economists had suggested, it's not all that simple?
5
Even more important than terms is honoring the deals. They are not meant to be yanked but every elected President. The US is going to find out the hard way.
5
This is what happens when you put up walls and embrace a nationalistic "America First" policy: the rest of the world moves ahead without you.
This jingoistic nationalism and closed-mindedness is shared by the right (Trump) and the left (Sanders).
Trade with Europe and Asia is good all around. Even better is free trade with Latin America, which boosts the developing economies of our neighbors to the south. But if we withdraw from the world, someone else will step forward into the vacancy.
6
@Dr. J. Isolationism of the 1920-1930's. Back at it again. (Well, we still traded in secret to help the European nations fight against Hitler and his Nazi regime.)
Republicans agree trade wars don't work. I don't know what Trump is but he isn't a Republican.
2
@BobC Trump's not a Republican? I guess all those Republican voters must have just marked the wrong spot on the ballot. And the Republican Party must have nominated the wrong guy.
Trump is a Republican. He is the Republican Party now.
7
@citybumpkin Trump is not a Republican. He is not the Republican party. He may have signed up as a Republican but he is not one of them. The Republican party are just going along with him
I am Canadian and what I see unfolding is the completion of Ronald Reagan's vision of America. It was Gorbachev who told the East German Chancellor to tear down the wall before Reagan's phoney baloney speech. It was Gorbachev who offered America a Russia a Russia compliant with the norms of diplomacy which would have made Russia a partner in a world committed to the economic and social betterment of the world's people. Gorbachev called it glasnost and it was Reagan and the GOP which rejected glasnost and turned Russia into the totalitarian rogue state that is undermining and threatening Canada and the Western Democracies today and into the future.
There is little difference between Russia and the GOP in the type of society they seek to establish. Chrystia Freeland Canada's present Minister of Foreign Affairs outlined what happened when as an economic journalist whose specialty was Russia wrote The Sale of the Century which saw Russia become a neoliberal's dream with Russia become a Theocratic Oligarchy with Putin and the religious nationalist right assume total control of Russian society and the oligarchs assume economic control at the expense of Russia's citizens.
Donald Trump watches television and has little if any understanding of why Russia is the enemy when its society seems the very model of the society the GOP demands.
Putin is anti choice, anti-immigrant, racist, homophobic and a member of the religious right how can he be the enemy?
11
I mean, who can blame them? I fear the only thing the rest of the world can now count on the United States for, is every four to eight years we will vote into the White House someone who doesn’t belong there. For every Clinton and Obama, (good/repaired economies, intelligent nuanced foreign policy) we get a W and a Trump. This pattern will continue.
7
This article explores, briefly, the potential for Europe and China to draw much closer but it ignores the potential for the coming Iran deal sanctions to drive Europe and China into each other's arms. While the dollars involved with Iran are not great, the potential for the EU and China to work together to defy Donald Trump are pretty large. That could mean extending the tariff wars into a sanctions war and then spilling over into a financial sector war. We might see Donald Trump threatening to withdraw from both the WTO and NATO, if nobody blinks.
3
HERE again I see fore planning. As the American GDP swells due to our extractive economy, the Middle East is crushed to the stone age, we turn our trade partners loose to make deals to cut out the Russia/China new Silk Road. The only thing that could possibly short circuit this profitable free-for-all is a plasma strike from that not-really-there magnetically strong cosmic body long heralded but not yet seen.
Best wishes to our neighbors and former allies. If America is going to be open to Russian intrusion (aargh!), it is just as well that China is strong enough to form any sort of balance. Since China is also Mexico's Number Two trading partner, it looks as though we are entering the Century of the People's Republic - and it looks as though that is not the worst scenario.
3
Well said. Russia is one of the slimiest countries in the world. God help any country that allies with Russia.
1
Trump is causing global economic changes which are already harming our economy
Same old Democrat talking points.
The US economy is doing just fine.
Just maybe because Trump put his foot down.
The Establishment is squawking because it benefits from the US being taken advantage of by "friendly countries".
1
@True Observer: The economy is doing fine, until it doesn’t. The 99% are not doing so fine already. For a True Observer, you really like your blinders...
2
A united Europe has roughly the same GDP as the United States and it is not surprising that the United States and Europe would have friction over trade policy, support for NATO, etc. But why would the United States want to abandon Europe and ally with Russia? The United States and Europe have many things in common and it seems to me could work out our relatively minor differences. How does being an ally of Russia help the United States? Russia is a power in economic decline with a fair-sized military and nuclear weapons.
The United States would be much better off to ally with Europe, India, Japan, Australia, and South Korea in order to better deal with China and Russia.
6
Slight correction, it is wrong to say the EU is Euope as there are quite a few European countries not in the EU including Russia, which spans both Europe and Asia. There are about 51 independent countries in Europe and 28 soon to be 27 in the EU.
1
No one cares about the UK anymore, either.
1
Congress has handed off too many of their responsibilities to the executive and executive orders. Sure, it is easier and more convenient to have one man make the decision for the nation - no need for committees or compromise or having to explain complex issues to voters. Just have a de-facto version of exactly what the founders wanted to avoid - a King.
The problem is that while our elected officials like their offices and perceived power, they don't want the responsibility that comes with the office. Make speeches filled with bombast and over-the-top use of modifiers to blame the "other side" and never actually be responsible for anything.
We need elected officials who take their job seriously and actually do what the constitution calls on them to do.
2
Trump is causing global economic changes which are already harming our economy, and which are going to harm it a lot more in the coming months and years.
6
Far as I can tell, Trump just Big Bad Wolfed it, figuring that he'd huff and he'd puff and everybody'd just lie down. Unfortunately as far as I can tell, the Bad Guys snickered and just started shining him on, and the Good Guys sighed and started making other arrangements.
5
Illegal aliens held in detention centers. Thousands of illegal Americans have crossed borders into former allies countries trying to obtain citizenship. Reason given to authorities is people needing asylum for fear of imprisonment, bodily harm. America is now one of those countries Trump once complained about. You know a 3rd world one. Corrupt leaders, government, oligarchs, etc.
Oh please enough with the constant hand wringing. Man/woman up! Our great Republic has survived many idiots in the oval office and it will survive this one - Trump's antics pale in comparison to the likes of A Johnson, Grant and Harding etc. But are you kidding me, after just a year or so in office all of our great friends and allies are ready to abandon us and look to who again, Vietnam and Mexico?? as their besties . . . Any suggestion that the US will not remain the worlds prime actor is absurd. There are no alternatives for the long run. But go ahead and see, have fun - watch how fast everyone will come running back, that is if they really ever go anywhere else.
2
Coming running back for what ? The Dollar, abused for 50 or 60 years, is increasingly looking like a bad bet.
5
@ST Count this Canadian and many others gone and staying away. Old Dutch (Canadian) potato chips better than Lay's; Mexican coffee preferable to Folger's; French chocolate better than Hershey's, Cascades (Canadian) toilet paper on our store shelves....I hope that you get the picture.
You are counting returning customer chickens, before the rooster gets that gleam in his eye. Unfortunately, he's looking elsewhere.
5
the great friends and allies of the US are not abandoning it, you have it completely backwards. The US is driving away it's great friends and allies by tearing up trade agreements and imposing arbitrary tarrifs. Get the madman in the White House to stop acting like, indeed saying, that these friends and allies are the US's greatest foes and normal relationships can resume.
4
In short, the world moves ahead without the US. It will take an entire generation for this country to recover from the buffoonery of Trump.
5
It's a sad state of affairs. As we see the EU doing this trade deal with Japan, I'm sure our Prime Minister here in Canada is going to do the same. We already have a trade deal with the EU but if we can't trust our best ally, the US, we have to look abroad. There's even more talk of doing more trade deals with China as well. I feel the US is loosing the trust of all it's partners with Trump in the White House. And then kaboom! On Monday he's practically friends with that thug Poutine! Wow, that will not warm up relationships with Canada at all.
5
@Pierre Pilon
Ah, mon gars, Trump poured a lot of flattering gravy on Vladimir Poutine. Pretty cheesy!! And, where will the chips fall?
(just a little Canadian "inside joke" to brighten things!
1
Forget about the meeting with Putin on Monday, this is the real news.
6
TrumPutin 2020.
Perhaps it will take a tanking of the American economy to wake up the fools who continue supporting trump and the Republican Party.
6
"Finally, As The US Calls out the EU, They are Forced to Look Elsewhere For Handouts"
...sounds better.
2
If you are buying stuff from them you are not giving a handout. American products can be found all over the world. It’s called commerce.
1
And so the Russian-engineered isolation and degradation of the United States begins...
Russia is celebrating their success in using Trump to fragment the hard-won western alliances that stabilize the Democracies and insure peace and economic prosperity for all. What he has done is TREASON of the highest order, and still the Trumplicans support him.
What do they have to gain? The rich oligarchs are the only ones who will profit with the suppression of the middle and poor classes. Mnuchin, Trump, Pence, Koch - they will all make billions and you and I will scrape for a basic living soon enough. STUPID!
3
Japan and China might make token tariff reductions here and there, but they will never become open markets. It's not in their DNA. Japanese personal care product,s for example, are inferiors, sparse in variety and expensive. A small bottle of shampoo is $12. A deodorant is $12. Low-quality eyedrops are $12. A small can of hairspray is $12. A canteloupe is $50 or $100. Are you seeing a pattern here?
Ironically, Trump's greatest gift to the world may yet be freer world trade. With the U.S. on the outside looking in of course! I read about the Japan/EU free trade agreement in The Asahi Shimbun Japanese English-language newspaper earlier today--they are pleased. Iran assembles Renault cars. NG pipelines are being built between Russia and Europe, whether the U.S. approves or not. There is plenty more in the works as this article points out. The world will move on w/o the U.S. Worldwide U.S. economic hegemony is near the end. I only hope we rid ourselves of Trump and GOP control of our government before we experience complete economic collapse.
3
Add this information to what we saw and heard from POTUS yesterday in Helsinki and then ask yourself the question, "Am I tired of winning yet?" I am tired, alright. Tired of seeing the leaders of countries that have been allies of the US for decades--i.e., Mr. Trudeau, Mrs. Merkel, Mrs. May, among others--being browbeaten and humiliated by the current occupant of 1600 Penn Ave. Tired of hearing attacks on the media and media workers who are just doing their job the best way they can. Tired, too, of attacks on women's and gay and lesbian rights. But above all, tired of seeing, hearing, and reading how my Latin American brothers and sisters fleeing gang and domestic violence are being treated by the current US regime. This nightmare cannot end soon enough!
4
It's time for America to examine its conscience. Many of our policies and practices are based on the worst that humanity has to offer -- racism, greed, power. We show little concern for quality public education, universal health care, helping those in need. We show little concern for the environment, for sustainable practices, for zero population growth. We show little concern for the basic freedoms. And we show little appreciation of those disciplines that feed the soul -- the arts and the humanities; and those that strive toward the truth -- the sciences. No one will respect us or view us as a reliable partner unless we can demonstrate our strength in a human way. The GOP is dead, it drowned in its greed.
6
I'm sure our (former) allies will work together as well as with new partners in a spirit of cooperation and benefits for all. That notion could not be more anathema to Don's world view, where "winning" can only be achieved by someone else "losing." Instead, we can look forward to substantial price inflation thanks to the Republican tariff taxes. When the economy tanks under the weight of these tariffs, I suppose Don will blame Hillary Clinton or some such similar nonsense that his "base" will lap up.
The author is correct that, even with the various trade agreements with other countries, the EU will still suffer a lot of harm in a trade war with the U.S., since we have such a massive economy. What happens, though, if the CPTPP countries of the Pacific rim get more countries to join, and they ultimately have a universal trade agreement with the EU? China, India and the ASEAN countries may create a trade zone (not free trade, but lower tariffs) called, I believe, RCEP. The U.S. has always had the advantage of being, in essence, a huge free trade zone unto itself. If most of the rest of the world creates trade zones, we may be, finally, in a bit of trouble. And even if only some of the proposed trade zones come to fruition, America will still have a harder time exporting than before Trump became president. Trump just can't make a deal.
2
Good for the Europeans! The Trump administration has undercut trade norms. The American people need to understand the full ramifications of electing this feckless leader. Europeans shouldn't have to share in the misery and burden that the Americans have brought upon themselves.
10
Our allies going it alone will just the beginning of America's decline, if Trump stays in office much longer. America cannot prosper without allies that uphold our values. Only thugs will seek out thuggish dictators as friends. We need to stop acting like deer looking into the headlights and get rid of Trump ASAP for our own country's good. This is not a left or right issue, it is now a national security issue.
3
For the ignorant, this article will be a basis for the bashing of the president. For the educated, it is proof that Trump is right to force the EU into a submissive position now. The EU is in a much weaker position right now. Give them time and they will gain strength by using our military protection to free up their resources to do other deals and be more prosperous. Given our power disparity we should force them to agree to a deal that is strongly in our favor or start pulling our troops, closing off our markets and making them protect themselves. Rest assured if Europe is left alone it will only be a matter of time before a war breaks out and they will need the U.S.
1
We may be alienating long time allies and losing trusted trading partners around the world, but we've gained two new allies in North Korea and Russia. Our president says their leaders are fine men, and I've heard Russia makes an excellent car called the Yugo that is sure to be a popular import.
13
@Jimmy USA You just have to put it in 'H', I hear. It's also very good at going down hills; up... not so much, but it's great in H on any downward slopes.
3
Let's give credit where credit is due - trump and his merry band of greedy Republicans appear to have initiated substantial destruction of prosperity America actually had up to now. How are trump and the Republican Party going to come up with all the needed unemployment benefits that are precipitating just over the horizon?
3
The GOP will kill the unemployed off by taking away their ACA health care. Trump's plan is genocide by bureaucracy - and I don't say that lightly.
1
Forgive me, especially after I myself am accusing Trump of being a traitor to his own country, but I have to say good for Europe, Japan, Canada, and our other allies. Trump's profound hubris and pathological ego have rendered him ignorant to the ways of the world. It is not going to stop just because of his arbitrary and senseless actions. Our allies have been at this for a long time, and they know not only how to run their own nations but also how to nurture and tend to them. Who would ever think that a once vibrant democracy is headed toward a Banana Republic under this Dictator Wannabe? Or perhaps just as ominously, who would have predicted that America is on the path to being a satellite country controlled by a ruthless adversary? Such a mess this man has gotten us into. And as of yet, no one seems to be stopping him..
22
@Kathy Lollocki agree
2
For all of those Americans driving cars made in Europe, what could you buy that's made in Russia?
Mr. Trump already stated he does not want to see a Mercedes Benz driving on 5th Avenue.
3
Sable coats for the 1%, oil for the polluting industries, laundered investments for trump.
1
What did this fool, Mr. Trump, think would happen? The world is moving on with the United States. Like his own personal businesses, he will bankrupt this country too.
Vote in November!
28
Yes, yes, yes Europe! Let the Fake, now traitorous, President be left with his best buddy Vladimir as a trading partner. U.S. Intelligence for dirty fossil fuels, plus Trump Resorts in Moscow, Crimea, St. Petersburg... ? Ah, the art of treason.
9
Trump's experience as a businessman is inheriting millions of dollar form father and grandfather, 5 times bankruptcy, cheating workers and vendors and cutting corners. So the economy of our country is a big business. When Trump can not run a real estate business successfully, then how he cab run the big business of the richest country of the world. I think, Japan,China, European countries, Canada , Brazil and some Latin countries will get together to make Trade Deal. Trump will destroy our economy.
12
Check stock market growth for the past 18 months.
2
check the stock market under the previous President - then - if its so important.
1
@Kimbo,
There's a big difference between causation and correlation. If there is a causal link between Trump policies and the economy, he'll need to take ownership for when it tanks.
The European Union (E.U.) is doing what should be done by every country--boycott the U.S. by matching its tariffs while reducing or even eliminating tariffs on all other countries and trading blocks. President Trump has now been revealed as Vladimir Putin's puppet and the cancer to trade and to western democracies has to be isolated before it metastisizes elsewhere, especially to Great Britain which will be isolated economically if it continues it's fantasy of a trade deal with Trump and continues with Brexit. If the American people aren't willing to rid themselves of Trump after the public betrayal in Helsinki not seen since Neville Chamberlain agreed to "peace in our time" by signing the 1938 Munich Agreement with Adolph Hitler. The world needs both economic and political strength to contain Trump and the certainty of more Russian expansionism in eastern Europe.
5
Negotiators harmonized tariffs on pharmaceuticals? Very odd how this somehow did not reduce the cost of medical drugs in the United States.
4
"But no matter how many barriers to international commerce the European Union manages to tear down, its leaders will not change one economic fact of life: The United States remains the Continent’s largest trading partner"
It's not EU leaders who are doing their best to wipe out trade with the US - that's the job of your President.
The UK and the US are also each other's largest investors but even after Brexit a trade deal that includes chlorinated chicken, hormone-injected meat, GMOs and pesticde-drenched fruits and vegetables will not be acceptable to UK consumers. Nor will scecret tribunals that allow corporations to sue a sovereign government - the point that virtually wiped out TTIP upon its release, via leaks, to the public.
Now to start preparing for 2020 and Scottish Independence Referendum 2 so that at least we don't have to join the English nationalists' headlong rush to irrelevance.
10
@LiamSeanMcKnight
The UK Brexiteers believe that leaving the EU will free them up to make a trade deal with - seriously - Trump;
the funny thing is, Trump the businessman doesn't know how to put an international deal together, he only knows how to break them. I don't think you have to worry about getting our chlorinated, hormonal chicken anytime soon.
1
Thanks, Congress. (For doing absolutely nothing.)
16
It appears that Russian manservant, Captain Bone Spurs, the undisputed King of Bankruptcy, has stepped up his game to include the United States of America to his long list of catastrophes...
14
Who, in their right mind, would sign a treaty with the current administration? Maybe Russia, but that's about it. We pulled out of the Iran deal and our current leader has no respect for procedures and laws that get in the way of his fragile feelings, so any agreement is only worth the trust you have in the biggest liar in US history. Would you buy a car from this man? No chance.
10
Trade between the U.S. and the Eruo Zone is over one trillion dollars per year. Only Trump would conveniently ignore that n his desire to get more air time.
2
But a personal billion($) infusion to Donald's corrupt account trumps a trillion to the American economy at large. Just sayin.
With a trump con game corruption is king.
1
In an era of diversity that forces us to get out of our usual shells, the EU finding trade ties to Asia should probably be seen as a positive step, yet we bemoan it for some reason now. The conflict between our words and actions sometimes is baffling.
2
This article forgets to mention an important point addressed by this Japan-EU trade deal: Japan also agreed to align its legislation on personal data to that of the EU General Data Protection Regulation (GDPR). Although not perfect, the GDPR currently provides the best standard of data and privacy protection.
This would apply to all companies, national and foreign, doing business in Japan, a regulation enforced in Europe since May 2018.
10
Will the last (former) ally of the USA, please be sure to turn the lights out?
To paraphrase a famous quote from WWI,
"The lights are going out all over the world, and we shall not see them lit again in our life-time as long as the likes of Trump is in power"
19
It is frightening that the repercussion of Trumps trade war will likely hit the next president, probably a democrat, hardest.
Trump will get away, america will not.
37
@Mathias Weitz it always the same pattern The 2 Bush increase the deficit and the 2 Democrat presidents reduce it and the Trump starts the game again!!! The GOP is a real danger to USA
1
How can anyone trust us when we waver back and forth between left and right every four years? I call that psychotic.
With the ubiquitous cell phone media, entertainment, news 24/7, drugs, consumerism, gun culture, fundamentalist religious bodies, etc., we have the perfect storm of self-destruction.
15
Who (what) was that left, the Democratic Party?
It's about time the Europe woke stood on its own two feet.
3
But it will. Don't worry. But don't expect any more collaboration coming from Europe.
10
Please don't include vacuum cleaners. I want a German made Miele and they already cost a small fortune.
15
We can see how Trump goes bankrupt.
28
trade or no trade, we'll always have religion and guns!
39
With all the Trump and "America First" nonsense, it's no wonder that Europeans, Canadians, Japanese, etc., etc. are telling us to "shove it." One good thing: the bloom is finally off the rose of "American exceptionalism," except for diehard Trumpists who have no interest if any place but "America" (the United States, not to be commingled with Canada, Brazil, etc.). We can and will take back our role as an international leader once we see the back of Trump and his minions, but with an object lesson behind us that reminds us once and for all that we're not "the best" but one among the many (pushing 200) independent countries now on the world map.
40
@C.L.S....and the sole country in the world not anymore a member of the Paris Agreement!
1
Financial markets sailing right through recent news of a US president coming as close to committing treason as any president in our history unfazed should carry a powerful message: The world can get along fine without the United States. That will be an unmitigated disaster for its citizens.
10
Hey Western Europe - Don’t abandon the majority of the popular vote and the majority of the American people who didn’t vote for Trumputin and wish the US, too, could switch to a different (better) partner-president.
15
These are the trade deals Donald Trump should be making for the United States. Instead he is sucking up to Russia and Putin.
Donald Trump is a 'has been' or maybe a 'never was'.
Congratulations Comrade Trump.
14
How has Japan managed to stay out of this trade craziness? Not so long ago, Japan was the great trade frenemy, selling cars and electronics and buying up US companies and properties.
The US enters this trade war with the following strengths and weaknesses:
Strengths:
1) Per the Fed's recent stress tests, US banks appear to have strong capital bases with reasonable exposure to risks.
2) The tax cuts have been a fiscal stimulus that drive US earnings and stock price gains.
3) Via this stimulus, job growth has occurred. The 4% unemployment rate signals tight labor markets.
Weaknesses:
1) Farm income is stagnant. Contributing to this stagnation, per the AP, "has been the Trump Administartion's willingness to issue waivers exempting petroleum refineries from having to blend ethanol into their fuels."
2) Some firms, using stock buybacks and cash dividends to raise stock prices, now see their debt/stockholders' equity ratios at risky levels.
3) Many private equity funds have used LBOs to take public firms private, and pay themselves large cash dividends. The higher debt/equity ratios of these firms after being taken public again, increases their risk.
4) Almost 50% of S&P 500 firms' sales arise from foreign sources. A bellicose attitude per a trade war would be unappreciated by customers of these profit centers.
5) JIT manufacturing methods have been developed via global, complex logistics relationships across borders. To feed new price data via tariffs into this system may prove disruptive.
6) Next year, the tax cut stimulus will not be novel and this year's EPS gains and stock price gains due to it will be hard to match.
7/17 Tu 11:54a Greenville NC
3
John Joseph Laffiteau MS in Econ-The unemployment rate is a lie. It's closer to 12%, if you include the partially employed, and the under employed. Only employers, and the wealthy, are doing better, and then only the bigger ones. Wage growth is stagnant. Jobs are being lost, thanks to tariffs. The picture is not rosy, unless you are already successful.
14
@ChesBay
I) This Sunday's New York Times Book Review (7/15/2018) contained two reviews on the front page discussing solutions to the problems you cited, via income payments to individuals.
II) The Trump Administration faced a dilemma. Balance of trade numbers show persistently large deficits and leakages of US payments into the global GDP. In a sort of "shock and awe" policy, his administration tried to end these troublesome deficits via: first firing up the US economy per the tax cuts. Next, his administration hoped to negotiate from this position of strength, and by its lonesome, gain more permanent, more favorable changes in trade compacts to reduce these huge annual deficits. In such a trade war, I simply thought the factors I listed could both positively and negatively impact the ability of the US to economically, and politically (there is a congressional election in November), sustain its position once the pain inflicted by these tariffs grows.
III) But, without changes in the terms of trade, why would the trade deficit ever reverse, and cease sapping the US of its economic vibrancy, so thinks the Trump Administration. For better or for worse, in cost/benefit terms, the Trump Administration opted to gamble on a trade war.
7/17 Tu 12:39p Greenville NC
John Joseph Laffiteau MS in Econ--Yeah, those tax cuts for the rich and corporations have made little difference in most people's paychecks, and besides, any extra they may be getting will be eaten up by increased health care costs, and inflation. Also, THEIR so called tax cuts will expire, while the rich tax cuts have been made "permanent." I Imagine, that, if the Dems take back the government, the first thing they will do is extinguish those tax cuts, as they should, along with the job-killing tariffs.
Good trade policy and good economics doesn't change because of US policies.
The EU produces all kinds of great products and needs all kinds of great products along with the exchange of culture, education and ideas that a larger pool brings to the table.
Just because the US government is pursuing bad economic policies doesn't mean others are pursuing good policies because of it. They are doing this because global trade presents terrific economic opportunity for the EU and everyone else.
There is likely no cause and effect here.
2
Remember when the Republicans used to say, "What we really need in the White House is a businessman," and everyone would agree with them? Just wondering.
40
@Fred Esq. Trump is far from being a "businessman" he is, at the most, a Mafioso; a vicious, multi-time bankrupted mafioso...
6
@Fred Esq.
They forgot to add "skilled and successful businessman".
3
The premise of the article is simple. President Trump’s actions and viewpoints on trade have encouraged the EU to find other partners.
Yet, buried in the article is this simple truth:
“Trade deals take years to negotiate and work on the most recent pacts started before Mr. Trump was elected.”
It undercuts the entire premise of the article. If anything, using the article’s logic of cause and effect, we must assume that these trade deals were initiated because of something President Obama did.
7
@John, Hate to break this to you but other countries do not seek trade deals based on who happens to be in the oval office. They do it to better their countries. And these days that doesn't include the USA. Not by choice but by necessity.
21
RNS:
I hate to break it to you, but you are correct. And you prove my point.
And since we agree on this point, we must also agree that the tone of the article and the headline are absurd. The EU's actions were completely normal and had absolutely nothing to do with President Trump.
3
@John
Actually, John, what's absurd is your classic Republican lack of subtlety and logic.
You give it all away in your penultimate sentence:
"Yet, buried in the article is this simple truth: “Trade deals take years to negotiate and work on the most recent pacts started before Mr. Trump was elected.”"
What we are speaking about here is not the outcome of previous deals, we are talking about the sudden rush to initiate new deals that exclude or don't rely upon trade with the United States.
We may not see the outcome for years, as you say, but the impetus to begin the process is immediate, and it is based solely on the behavior of your President and your Party.
"Trade deals take years to negotiate and work on the most recent pacts started before Mr. Trump was elected."
For a president and businessman who emphasized his skills at deal making he sure hasn't shown any evidence that he understands how deals work. Then again, neither did a lot of his supporters and they still don't. So Trump is getting away with using a wrecking ball to try to keep our economy going when Obama and others, even W, were using diplomacy to try to improve our economy and get better deals for our goods in other countries.
Some businessman he is, NOT.
29
@hen3ry Trump's current position shines a very bright light on his utter incompetence as a manager, leader, and deal-maker. The man is a ridiculous fraud. It's certainly easy to see how he drove every business he built straight into bankruptcy. His presidency will be yet another failure, this time on an epic, tragic scale.
8
Media talking heads, pundits, experts, elected officials and average people across America and around the world are asking what can be done about The Con Don's treason when it is clear the spineless democracy-destroying republicans and other Robber Baron operatives in OUR Congress/Senate do not plan to do anything to stop him.
This is a Constitutional Crisis and OUR U.S. Constitution does not take into consideration the idea that anyone who occupies OUR white house would be a traitor.
The Con Don is.
WE THE PEOPLE have five living Presidents. Although there was significant interference when George Bush, Jr. was elected it was nothing compared to the Russian/International Mafia war to get The Con Don and his Robber Baron brethren into OUR decision-making governmental roles.
OUR five elected past-presidents MUST step up and take over OUR United States of America. These are unprecedented times and unprecedented actions are necessary to save/preserve/restore democratic governance in OUR country.
Please, Good Men, step up and put The Con Don and his Robber Baron operatives under citizen's arrest and place democracy-loving officials in key positions. Work together to save America.
NOW is the time. Now may be the only time for centuries.
NO WW3. No more destruction of democratic rule in OUR world.
15
@njglea - Sadly, there is no white knight coming to the rescue, and a coup is not a viable option, at least in my opinion. The people voted for Trump, although not a majority, and they also voted for those spineless Republicans. You get what you vote for and, unfortunately, the minority voted in the spineless and the incompetent and the majority has to live with it. While I despise the vile racist forces that voted in this con man, I am equally disappointed with those who chose not to vote and those who remain, to this day, ignorant of the dire straights this country is in. Right now, our only real hope is to gain the House in November and, although it feels like we should win in a landslide, Republicans are dedicated to staying the course even as our country slides into fascism. Sad days, indeed.
5
@njglea ... don't want WW3? Establish good relations with Russia.
@njgleaI understand the frustration to see your country under the leadership of a mafioso but any solution shall be under the laws of the Country. You have to be patient and wait for 11/2018 and 2020. In the meantime put a lot of pressure on the state authorities to reestablish the paper ballot; any digital voting is a risk to easy manipulation. On the day of a vote get in touch with at least 2 friends to make sure they are going to vote; ask for them to do the same. The democracy should prevail at the end of the day. If you don't like the result, live with it if the laws have been respected or, if not, go down in the street and take back your liberty!
2
Europe makes good products. Tarifs or not Americans will buy.
If Europeans turn on the heat by giving even more quality for the money, then the only thing tariffs will have achieved is higher prices for costumers, but they will nonetheless be satisfied customers.
One thing tariffs are unlikely to do is divert demand to American product equivalents.
All of this just amounts to dumb political thrills for Trump and company.
10
Ever so slowly but with certainty, Trump is submarining our economy with his nonsensical trade antics. His lies about the US and World trade are becoming facts. Trying to figure out his goals is difficult but the results are not. Trump’s removal from office is imperative.
30
When the bully has a hissy fit and takes his ball and goes home, it's time to find a new ball. Might not be as good as the bully's ball but at least the game will go on. Sooner or later the bully will return and ask to get back in the game.
22
It is time for the world to move on & break free from the perceived threat that the US can sink the world by pulling out of all agreements. The world needs to decide who it can trust & who will be there when they need help. The US has lost that power to be the one ally to count on. The US is no longer THE superpower & it is time we realize that & move to at least be an equal. Countries should be allowed to trade with whomever they wish without threats from the US. The world will survive but will the US?
40
Yes, we are replaceable.
There are deals to be made elsewhere, other countries to set contracts with.
That is the secret to "globalization": "There's some other country, somewhere, who will offer me the same deal, or maybe even better!"
Usually "globalization" just focus' on the cheapest contract they can set (AKA: "the race to the bottom"), but when one major partner picks up their marbles and leaves in a huff, that suddenly "vacant spot" quickly gets filled.
We are replaceable.
It is proof-positive that the Republicans are incompetent that they never told that brainless crook in the White House that all of it is replaceable - and there is no International Law that says that it has to be replaced with "better".
In fact, it is really going to get much worse.
Thanks for nothing, Republicans.
You remind me of the song from the Great Depression:
"Oh, I've got plenty of Nothin',
Cause Nothin's plenty for me!"
Do try to tell trump how the world works before he destroys it all, okay?
30
@rosa ... that " vacant spot " is a $20 trillion economy.
1
Trump is destroying America, its credibility and its alliances. Every day he is in office things get worse.
42
...so what happens when China becomes the world's largest trading partner?
10
@MS
"...so what happens when China becomes the world's largest trading partner?"
Trump opens a cheesy hotel in Beijing.
6
@MS We will use the Yuan instead of the US$ as previously provided for under the Bretton Woods agreement but, as Trump said, all those international agreements are so complicated and made against the USA' interest...
1
Good for the EU. Time for them to give up on the US. We are finished anyway, destined to be annexed by Russia, as it did with Crimea. The only difference is that there will be no shots fired in this takeover, since Trump is eagerly surrendering our sovereignty, with full support of his equally traitorous Republican colleagues.
35
Mr. Trump said Canadian trade with the US was a national security matter and being considered a national security problem for the US under that reasoning got a lot of folks angry. I guess he forgot about the 30,000+ stranded US travelers who where bed, fed, clothed and medicated all across the country gratis, or the US hostages the Canadians got out of Iran when the US embassy was stormed. Not to mention the expense of blood and treasure in Afghanistan. No doubt if the same set of circumstances were to arise Canadians would do the same thing again....but with gritted teeth.
1
Wake up republicans. Your treacherous republican president is destroying America. He is driving away our trading partners. He has shaken the EU and started a trade war that you never wanted. He is materially harming your voters and you all are too cowardly and corrupt to do anything. Besides getting rich, why did you run for office?
47
@Mark
Make no mistake. He's doing all that with their complicity. They have an agenda which doesn't involve prosperity for 98% of us. So long as Trump is willing to help facilitate that agenda, they simply don't care. If it looks like they'll lose Congress, they'll make some noise, but the very second they secure it, it's back to ignoring Trump's outbursts. If we want this to stop, it's up to us to ensure Congress isn't under Republican control. It's not about whether you like Democrats or not; they aren't actively undermining institutions that protect our democracy. Even if a person doesn't like the Dems, the Repubs are the bigger threat right now and need to be treated accordingly.
34
@JustJeffand make sure all the states use paper ballot in the future...just in case!
Maybe Jack Ewing can demonstrate what free trade is? It's certainly not free from VAT or import taxes. These deals were being sought after regardless of US trade relations and it is disingenuous for anyone to think or write otherwise.
2
The world moves on without us as it should. Those on manufacturing states and in dying industries--coal and oil--will feel it the most. We here in NYC and Cali, not so much. Hunger Games, here we come. To the red stares: may the odds be ever in your favor.
13
I don't buy my pot anymore from the guy I was using for 5 years. He's a trump supporter and I moved on to someone else. The thing is, when Trump is no longer in the White House, I wont be using his services then either. That's trade in a nutshell. Domestic and international alliances are based on trust, and mutual benefits. Anyone who thinks trade wars are easily won or easily reversed shouldn't even be allowed to sell pot.
146
That's super! so true and so witty
3
Trump's hostility towards NATO and the EU could have serious long-term consequences for the United States. Say, for example, NATO countries were to do as he asks, and build up their own military arsenals ...In the short run this would serve Trump's claims to be improving the American economy, because no doubt NATO countries would probably be buying state-of-the-art American weapons. Then, in a few years their militaries would be far stronger than they are now, their armies and weapons more lethal, their alliances with each other - and power to oppose American bullying - more strong. If we continue to alienate NATO nations while insisting on them arming themselves, what is to stop them from turning against us one day. If that were to occur, Putin might be able to just sit back and enjoy the mutual destruction of Europe and the United States - and he could take the spoils when it ends. America should maintain good relations with its allies and keep the alliances strong, because, as the head of NATO ominously declared last week, we do not have many allies anymore.
6
I highly doubt NATO countries would buy US military equipment. One of the reasons Germany says it will take over a decade to reach 2% GDP spending on its defense is because that’s how long it will take for them to build up their own defense sector.
Those thinking that countries we call allies would buy our military wares might be for a grave disappointment.
30
@Sanctimonious Stu
EU has already started to talk about streamlining the the procurement of weapons. Anyone in the US believing that we will buy weapons from our "ally" bullying is deluded. We'll build up our own weapon industry (there will be more than enough money around to spend), which will make us even more independent from the US.
Turkey, a NATO partner, has just bought a large chunk of anti-aircraft-missiles from Russia, which is of course not compatible with the US made weapons in use.
Bullying its partners is never a good idea in the long run.
By the way: in aggregate, the EU-based NATO partners today already have a defense budget that matches the one of China, so there is much buying power.
7
FYI, the EU never intended to buy US weapons, even if trump continued the failed policies of the previous administrations. The EU never viewed US as an ally on the same level as US treated Europe.
4
In this future, Americans will be making the steel and aluminum, the shirts and shoes, the plastic gags and novelties to be sold to the E.U. and Asia, all at poverty wages. We will burn coal and oil and destroy our environment, our health, while the oligarchs dine and dance.
42
@miller
Sounds a lot like West Virginia, Kentucky, and Ohio.
Not surprisingly depressed, bedraggled, Trump sates all.
3
The EU seeking trade deals with other countries is nothing new and it would have happened with or without trump trade policies.
5
Thank you, President Trump, for aiding and abetting the rise of China and Russia.
10
America's top trading partners are the European Union -$ 1.1 trillion, Canada - $ 674 billion and Mexico- $ 667 billion. Russia is America's #30 trading partner behind the U.A.E.. China is Sub-Saharan Africa's #1 trading partner. And Brazil's as well.
While China has the nominal 2nd GDP economy, on a per capita basis it ranks 79th behind the Dominican Republic. China's" One Belt, One Road" socioeconomic initiative is poised to return to the superpower that it was for most of the past 2200 years.
6
Good for Canada.We are too dependent on the Americans.Less trade,less visits and more with the rest of the world.
38
So while Trump is trying to make Russia great again, the Europeans and Asians are signing trade deals among themselves, American companies and products are frozen out and soon Trump's tariffs will be taxing no one because we won't have any trade left. Has anyone told Putin's poodle that our trade with Russia totals little more than $10 billion a year and accounts for just 3% of total Russian exports?
37
American global leadership had a nice run: 1945 t0 2016.
Russia is a fading power.
America has lost leadership.
Pax Sinica in the pacific and a European-led network of alliances outside of Pax Sinica will shape the next four or five decades.
23
It is really appalling and astonishing to see how Donald Trump is destroying US relations, reputation and even worse putting America in the wort position it has been, probably ever. He is slowly making living in America very painful and soon to be very expensive. The world no longer sees America as a friendly, they are looking at us at a distance and working their way around us as much as they can, and with good reason. I too would look to do my business somewhere else before having to deal with a bully. America has been going on almost 2 years of disgrace, hostility, separation, and bad management in the white house. We have witnessed over and over again obvious lists of reasons to impeach this president, and government, and yet our checks and balances in place have proven to fail. If we have real evidence that the previous election was rigged, why can't we dismantle this fake government and have the US get back in track with real professionals that actually care about their country and people. I don't like the Trump experiment and he has proven to be a lousy business man, in fact, proven nonexistent qualities. It is not impressive that he wants to ridicule and bully everyone that shares differences of opinions with him. I want a wealthy and inclusive America, where everyone in the world wants to do business with, not the complete opposite. I'm also tired or learning how much the world hates us do to Trump. This is really tiring and divisive. I want our America back.
13
Emotional partisanship aside, chronic imbalance of imports over exports cannot be sustained. Tariff wars are not the answer. Currency exchange control may work better, and it need target no trading partner nor category of imports. Grant exporters $ trade credits that importers must buy on a regulated exchange before releasing equvalent $ to pay for imports. Why is that so difficult to have accepted? Such a program once almost made it through Congress until blocked by special interests. It had been proposed originally by Warren Buffett -- hardly some Marxist radical!
5
How quickly the European nations forget that it was the U.S. who saved their bacon in both world wars, and provided the troops and armaments to deter Soviet aggression on their borders during the protracted Cold War. If they choose to forsake all the sacrifices made by America to defend them and buy their products, so be it. Let's see how much the Japanese, Russians or Chinese do for them.
3
@paul They haven't forgotten. They just see America abandoning them to Russia's predatory advances, and are making their own arrangements without us, since we have proven ourselves to be unreliable.
Are you really going to stand here and say they still owe us for saving them in a war 70 years ago, when we refused to get involved at all until we personally were attacked?
130
@paul
Huh? Did you hear what your President said on his magical mystery tour to Europe, let alone what he has done to tear apart trading arrangements between the EU and the USA? And by the way, the EU expects nothing but trouble from the Russians unlike your President who seems to in some unhealthy bromance with the man whose country poisons its opponents and invades it neighbours. One might well ask how it has come to pass that the United States which defended freedom and democracy is now in thrall to regimes like Russia and North Korea.
28
Paul, I don't think European nations are forgetting anything - we just aren't stupid. Just because people sacrificed on our behalf it does not mean we should be forever beholden to a power that seems to be losing its way.... sorry Paul but you can't expect that level of loyalty from a relationship if there isn't a level of mutual respect from both parties. We'll just have to re-learn a little bit of self-sufficiency and we are fully capable of doing that. As the author Douglas Adams would say 'So long, and thanks for all the fish'.
If Europe feels it can no longer rely upon the US, perhaps they will decide to become responsible for their own defense. That would thwart Putin - who wants to weaken the EU - and would be a good thing.
Now, a trade war - that's a bad idea. If it craters the US economy, that might get Trump voted out of office in 2020 if he's still around at that time.
4
is is what happens when a failed businessman whose casinos went bankrupt is put in charge of our trade policies.
Trump’s ‘negotiating’ skills are these
1. Sign the contract
2. Renege when it comes time to pay
3. Be sued, sue or offer to pay a portion of what is owned
That’s our President, the great Negotiator.
God help us
75
The world has always been evolving. Before Trump, the US were at the head of the world and leading this progress. With Trump, the world still evolves, but the US are let aside. The country doesn't take part in progress and won't get the benefits from it (unfortunately for its citizens).
40
Tax breaks to corporate america will boost the economy to make up for lost trade. Once the bill comes due, expect a double hit on the economy.
10
Tax breaks for corporate America boost the economy for corporate executives.
2
I fear as things deteriorate for the US, the nonsense falsehoods that have brought this situation to pass will only intensify. Meanwhile the US is going to the WTO to say the retaliations against its national security justified tariffs against its allies are unjustified. And I'm not sure how the WTO can adjudicate such an action unless the US allows appointments it is holding up? Maybe the cure is to appoint someone that Trump suggests, in the name of fairness no doubt. Canada's new trade agreement with Europe can't much insulate us from the crisis of unreality in Washington.
11
From a European point of view - more specifically a British one - the impact of a trade deal between the EU and Japan, lessening tariffs on Japanese auto manufacturers, could be one more reason for Nissan, as an example, to relocate assembly from the British shores to mainland Europe. One United Kingdom could, of course, cozy up with Trump. However, such a deal at such a time would likely be rushed, and prove not favorably for the UK, specifically the British consumer. As an alternative, there is definitely always Russia :-)
11
Simple economics - if your store becomes more expensive, shoppers will go elsewhere for the same products. Thanks Donald, besides destroying your premium brand, you drag the USA brand down with it. The next election can't come soon enough.
73
Hundreds of thousands of Americans died fighting a war in Europe. Then we pumped $12 billion (that's billion with a B) in the Marshall Plan to rebuild Europe in the aftermath of that war. Then we defended Europe for 40 years from the Soviet menace. What more do we have to prove to Europe?
2
@Mike L.
The Marshall Plan did cost us billions. It helped rebuild Europe after the war and created profitable markets for US goods. The US became wealthy (and respected) in the 1950’s, 1960’s. It was a great investment!
Try reading up on history and learning some economics - then suggest Trump do the same. Got to go.
9
@Mike L
"What more do we have to prove to Europe? "
That an old dog can be a reliable dog.
That has just become a great deal more difficult to demonstrate.
5
@Mike L
In World War II, the UK fought Germany on two fronts virtually alone for 18 months, losing over the course of the war an estimated 450,000 subjects (380,000 servicemen and 67,000 civilians).
The US lost 407,000 servicemen - a huge toll, but not as great in proportion to Britain's loss, which was then a country with roughly one third of American's population.
One of the great stories of the 20th century is Britain's stand against the Nazis in 1940 and 1941, while in America Roosevelt's struggle with isolationists delayed our entry into the war.
Truly, it can be said of Britain role in the war what Churchill once said of the Royal Air Force: "Never in the field of human conflict was so much owed by so many to so few."
9
T says trade wars are easy to win. This is like a guy who is mediocre at Checkers saying Chess is easy to win.
102
Why are we allowing this highly unqualified, mediocre man, who lost the popular vote, to upend our institutions and the world order?
216
@caljn It appears we are going to allow Trump's 'base' to bring us all down.
6
@caljn . Yes, why?
Because his enablers in Congress are also guilty of buying stolen goods, the illegally hacked emails and other docs, just like trump. Why is Nunes and other GOP members so fierce in protecting trump while doing their best to undermine Mueller? They want to the whole investigation shut down because they are guilty as well. See Florida congressional race and their contacts with gruccifer 2.0.
3
As he undermines the US position in international trade and all matters of policy, Trump’s appeasement If Russian espionage and false equivalence between their invasion and our own friends, it’s clearer than ever: Russia has something on Trump and he’s a traitor.
It’s well past due to impeach Trump. He needs to go before it’s too late.
93
Trump doesn't understand trade policy.
He is a traitor, not trader.
282
@Edyee
He doesn't understand anything, not just trade policy.
As long as Trump seats in the White House, the European Union should degrade its relations with the US to a bare mimimun. In opposition to the US newfound Mercantilism, the EU together with Japan and China, representing more than double the US GDP, should mend their diferences and forge ahead with a set of trade deals that can keep afloat the world commerce and economy.
26
I believe that the EU are correct to be wary of cozying up too much to China. Foremostly for political reasons, of course, but also with an eye on the mediocre quality of products hailing from there. Japan is a much safer choice.
4
Your blanket generalization about the quality of Chinese manufacturing is unsubstantiated and not born out by reality. The quality of the goods is determined by the parent corporation and consumer demand, and is not a reflection on the capabilities of the manufacturer. There are plenty of industries that make goods with the highest standard of quality.
4
For the time being, the United States can't be relied on to lead the Western democracies, much less to defend them. Europeans would do well to assume that they're on their own.
No European country, not even Germany, is large enough or strong enough to thrive in this new world. To stand up to Russian military and cyber aggression, to succeed in economic competition with China, and to rise above the bizarre presidency of Donald Trump, Europeans must strengthen their union.
Unfortunately, this need for stronger unity comes as European countries are turning inward, abandoning the European Union and even liberal democracy itself.
In the long run, both Russia and China are failed states, because they trample the dignity of their own people. And in the long run, Trump will be gone. But there's no telling how much damage they might do in the short run. The question I have is whether liberal democracy will survive the short run and even get to the long run.
politicsbyeccehomo.wordpress.com
43
Early on in our trade deals we should have been more like the Japanese. I spend much time in Tokyo and I am amazed how they have avoided globalization in their economy and culture. But then, they have not sold out to coporate interests like the US.
10
@Pepperman
Nothing to do with globalization.
Japan's culture stems from a history that goes back way over thousand years, while the history of the USA just consists of 232 years after being founded by people with vastly different cultures.
The corporatist tendencies in the US probably come from the colonialization days where the "new lands" were considered a great opportunity by chancers and people with money. Today especially the Republican side clings to the "Wild West" mantra of being a "straight shooter" (i.e. display of racism and xenophobia) and "pulling yourself up by your own strings" (i.e. no safety nets and no universal health care, if you can't afford it just go away and die silently).
64
@Pepperman Japan is very open to "globalization." What it has done, however, is implement domestic policies that have allowed the country to both maintain its culture and avoid the worst social effects of globalization. The US could easily do the same, but that requires that it charge higher taxes to the wealthy and implement more extensive social policies to offset the effects of income inequality. Also, note that the US has lost far more jobs to automation than other countries, which has nothing to do with globalization. The US failure to deal with "globalization" is entirely a failure of US domestic politics and ideology.
12
@Shaun Narine I would argue that Japan's maintenance of its 'culture' in the face of globalisation (if you define culture ethnically and statically, and not just as a performance of Japanese-ness which is both mutable and not arbitrarily contingent on birthplace) is as much a caution as anything else.
Japan is exceptionally opposed to immigration: The country took in 28 refugees in 2016, and public approval for increased immigration is low. Many in Japanese society define Japanese-ness and culture with reference to blood purity, which (without making a moral judgement), necessarily limits integration.
While many on the far right would no doubt look approvingly at the above, it is worth noting that Japan's economy will likely collapse without immigration on a large scale. In the next 50yrs, the rapidly ageing population is expected to shrink by a third, and the retirement-aged pop. will reach 38%. This will explode the cost of healthcare and pensions - and their political support - while putting the burden of financing them on a shrinking pop. of young people. This is not helped by a quirk of Japanese youth culture which seems to discourage sexual - and child-bearing - relationships more than most. The two obvious solutions are increased automation and immigration, which would have notable social effects (although not necessarily negative ones, I'd stress).
So much for traveling to Europe. It’s just easier to hang heads in shame here and not have to apologize for Donald Trump or explain disdain for him.
119
@MIMA
No, no, no! I was appalled when the US ambassador to England recommended American citizens in the UK to stay at home during Trump's visit. Europeans know the difference between this president and the American people (even many of those who voted for him), and most of us have great respect for the US and what it stands for: freedom, equality, initiative, creativity, a dream for a better world. And unfortunately, the US is not the only nation that suffers from bigotry, racism or alt-right nationalism in general. I sincerely believe that what we are seeing are the last death spasms of an world view that in fact has no future at all.
4
@When in Europe, just tell everyone you are Canadian- that's what we did during the Vietnam Era when we were doing a study abroad program in Europe and that's what we plan to do on future visits. When we lived in Hong Kong in the mid-80's, whenever we'd go by the American Embassy and see the American flag flying and the long long lines of people waiting outside for visas, I would be so proud and moved by what America stood for that I would get tears in my eyes. I never ever imagined being so totally ashamed of my country as I am right now.
5
@MIMA, actually we were in Europe last week and sat beside a couple from Michigan. We started to chat, they discovered we were from Canada, apologized profusely, and then we had a lovely lunch. Having said that, if they had talked about Trump in glowing terms, we would have found other seating arrangements.
5
Congratulations Europe and Japan!
98
Trust is something that takes forever to establish, and an instant to destroy.
This is a concept foreign to the Trump because for the most part he has never trusted, or been trusted.
For good reason.
257
@Lawrence There's an old Dutch saying "Trust arrives on foot but leaves on horseback"
23
Pax Americana is dead. Asia ascending.
109
European leaders should be cooperating with China to, as the Chinese Trade Minister said, "Bring America along with us". If all our trade surplus partners make proportional sacrifices we can cut the deficit dramatically.
3
"America First" is becoming "America Alone". Not sure this will Make America Great Again.
165
The time table leaves no room for other explanations:
Because the negotiating position of USA had been an hardened "America First" policy from 2013 on without any movement of the American side Europeans had to look increasingly for options. All these alternative "Free trade treaties" Mr. Ewing has quoted correctly that are already finalised - Canada, Mexico, Japan - or close to finalisation have nothing to do with Mr. Trump. These are the response of the well known unspoken "America First" policy of Mr. Obama which you can see here because preparation times for such treaties is 3 - 5 years before the are ready to conclude. 2013-2015 are the crucial years.
The only impact of Mr. Trumps recent behavior based of his outspoken "American First/MAGA" policy is that all other participants all threatened by trade wars explicitely so all had to hurry up and to prepare settlements as soon as possible without too much regard of obstacles and by giving up all - usual - malicious and irritating nuisance. It´s plain to see: The pressing situation created by Mr. Trump forces quick agreements with all countries that are threatened this means all others except Saudi Arabia and Israel (I don´t believe Russia, remember Nordstream 2) without wasting time. It´s a simple result of existential interests.
"Alone against the rest of the world" in a multiple-front global trade war against powerful alliances including apparently raising global powers is never a sustainable situation - even for USA.
17
The American President, his family, and his backers have ''extensive'' ties and ''business'' alignments with many countries around the world. (especially Russia and the Russian banks that seem to be propping up a lot of his properties)
If suddenly the United States diminishes decades long alliances and business partnerships, to supplement them elsewhere. then the real question, that nobody (especially the press) seems to be posing is:'' then who benefits ?''
There have been massive short sells in the stock markets around the world already, and now the world (especially the E.U. - and after Brexit) are scrambling for new partnerships and deals.
Maybe that is exactly what some people planned out ?
35
Good for the EU and Japan. This is the way of the world for at least 2 1/2 years or more..... Take a cue from DJT, look out for yourselves. The USA will not be there in support.....sadly
42
As the old saying goes, "Caveat emptor", or "buyer beware." Buyers have been made wary by our deal-breaking president, and they are understandable shopping elsewhere. When no promise is kept, and no good faith demonstrated, the world is looking elsewhere for quality and prices complete with the guarantees that supply chains need to produce their own products. By a used car from Trump? No chance; the odometer has been tampered with, the accident record erased, and buyers go elsewhere. America is becoming the Titanic with this captain deliberately saying "full speed ahead"; icebergs are fake.
1
It is evident that Trump’s policies are detrimental to the USA and his ‘America First’ agenda has hurt the US more than anyone could have ever imagined. With this new deal, more business will move away from the US and rightly so because it would be foolish for any other country not to take advantage of this unprecedented situation and sign new deals amongst countries that are willing to cooperate and who firmly believe that we can only grow together in this close knitted world.
86
@Hina Old supply chains are cut. They move. Period. And the US remains cut. They must be build up again. What a disadvantage for the US. But it's their fault. The world is going on.
20
As the old saying goes, "Caveat emptor", or "buyer beware." Buyers have been made wary by our deal-breaking president, and they are understandable shopping elsewhere. When no promise is kept, and no good faith demonstrated, the world is looking elsewhere for quality and prices complete with the guarantees that supply chains need to produce their own products. By a used car from Trump? No chance; the odometer has been tampered with, the accident record erased, and buyers go elsewhere. America is becoming the Titanic with this captain deliberately saying "full speed ahead; icebergs are fake."
318
As long as Trump is in office, everything will become more difficult. Once we lose trading partners it will be hard to get them back. Trump has done it alone again. He is hurting our trading partners and Americans with his shoot-from-the hip policy making. One thing is for sure, Trump and consequently the US cannot be trusted at this point. You never know what he will do next and he often changes his mind. Republicans---had enough---what will it take? We need congressional action.
132
@Paul Raffeld
...or you need firm answers within the next elections. Point is; Democracy isn't for free. Protect it or lose it. Our German forefathers were Professionals regarding destroying a Democracy and establish one of the brutalist and deadliest regimes ever seen on earth. Hopefully, they won't become the rule model of some US-voters these days.
5
Well, it's simple: I love to work and deal since around 30yrs with my American counterparts. But if the US-Gov. isn't interested in such deals any more than so shall it be. My business (database-analytics) is more than flexible to handle. Frankly spoken: I don't care about unreasonable tariffs. But I care for moral driven decisions, reliability and fair trade. Can't see anything of these cornerstones near the White House.
As we all know: nothing is without consequences. Rules in business are quite simple; No cornerstones, no deals - end of story. For my purposes, it's hardly a problem to concentrate my efforts more on Asia/Australia/Japan. The reality isn't waiting - not even for a sleepwalking American President. Funny thing, btw: The probably main US-Export-Product (English Language) is and will always be for free. Thanks for that :-)
129
@Jayne English is definitely not a US-Export-Product.
Honestly it's sickening watching what's happening. Great minds and skilled negotiators work on trade deals for years, NAFTA, Trans Pacific, Iran .. everywhere. They work it out. It's not perfect but overall it's good for business & world relations. And this baffoon comes along, who only knows destruction, who thinks it's all a reality TV show & about ratings, and knows nothing of these complicated multi angle situations. We will have to try to build back everything that is getting lost, if we even can. The rest of the world has to deal with us because we are so big and move the most money. But they are trying to leave us behind because we are just dragging ourselves and the whole Earth down. They have to distance themselves from the U.S. created madness as much as possible. Why contribute to it if you can avoid it.
200
I"n recent months, European Union leaders have voiced ever more confident rhetoric in favor of free trade, refusing to back down in the face of the threat of tariffs from Washington and instead aggressively courting new relationships."
I hate to say this, but good for them. I hope Trump gets wind of the consequences he has wrought through his woeful ignorance of basic economic terms from tariffs to trade deficits to trade imbalances and the like.
If he'd taken the time to shore up what he must have learned at the Wharton School in Ec 101, he probably would never have done what he's done, and we'll still be in major trade deals (NAFTA, TPP) that do confer benefits, which the president won't admit.
In the short term he's getting away with it, but what I'm hearing from finance types is that in a year, we'll be in a major recession resulting from Trump's totally inconsistent and poorly thought out system of tariffs, that he seems to make up on the fly.
I wonder who Trump will blame THAT on when it happens.
134
@ChristineMcM
But the EU's rhetoric about free-trade is a lie: the EU is one of the most protectionist entities on earth, far more protectionist than the United States. They don't practice what they preach.
New partnerships are going to be formed all over the world. Those who imagine they can simply dial back the good old days after Trump the destroyer has finished the job of making America hated again, may be sorely mistaken. We are moving on and may never want to come back.
The next chapter of commerce on this planet will have a more modest and sustainable cast. Economies largely based on consumerism as in America, or speculation as in China will find themselves struggling to find traction with those that function just fine with less.
America cannot be made great again in the manner Trump and those who will not stand up to him imagine. We are giving notice we will not be bought, or bullied, or insulted into enabling their outdated agenda.
History will record that the Trump presidency presaged the decline of the American Empire as we have come to know it. Whether or not America succeeds in joining the rest of us as a decent and less self serving partner remains to be seen.
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Memi von Gaza - an outstanding post, from which there is a lot to be learned.
Quite a number of commentators suggest that if only Trump can be replaced by a more reasonable president then the rest of world can trust America again. Looking at this from afar, it is not easy to draw the same conclusion. Given that Trump is really just a logical consequence of many long-standing, deep-rooted problems in the US centering around education, worldliness, racism, bigotry, unfettered predatory capitalism, gerrymandering, the Electoral College, all now enhanced by social media, there is no logical reason for assuming that the US will in the future become a stable and reliable partner.
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@Robert Sanders, your perspective is spot on! We, as a nation, have been politically divided for more years than 45 has been in office; I actually believe the divisions began in earnest with Gingrich and his "contract with America". We are closer now to a theocracy due to the evangelical "Christian" right and their dupes in Congress than at any other time in my life (74 yrs).
It will take decades and generations to repair this democratic experiment that was fragile at it's concept and in grave danger of disappearing today. However, without a deep belief in the principles written in our Constitution, principles no longer taught in schools--at any level--, I am glad I will not live long enough to witness the complete collapse of this once proud, honorable and great nation.
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@Robert Sanders
I agree with you. Trump is just a symptom of a much deeper root cause, which lies in the way the US society is composed, its election system, the ominous influence of churches, the NRA and other influencial groups.
With regards to the perception of the USA outside, Trump has, in my view, destroyed core values and beliefs, yes, in a way that myth that the USA are some sort of a role model for the rest of the world when it comes to democracy, freedom and tolerance. In pulling out the Paris Climate accord, JCPOA and TTP the US have also proved to be unreliable and not trustworthy.
Can a new president fix this? Even if he were all what Trump is not, we have now seen what the US is capable of (in a negative sense). If the USA did it once, they can do it again. A new man at the helm may improve the outside perception of the USA, I doubt that it will be possible to reinstate all that trust we used to have.
The damage is done, and it will be a lasting one. Trump, I assume, have given away the lead role the USA used to have in the aftermath of WWII, and I do not think that they will be able to regain it, as the current vacuum will be filled by others (i.e. China, Russia, EU etc). Trump wanted to stir up everything, but he broke the flask instead.
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@Robert Sanders
You are absolutely right. The final problem caused by Mr. Trump is described well by the commentator Paul Raffeld:
"Once we lose trading partners it will be hard to get them back."
These treaties have been a response on Mr. Obamas "America First" policy due to the former deindustrialization and huge deficit spending. They were never intended as reserve positions for a breach.
While Mr. Obama simply overrated his position and never ever wanted to become a disruptor Mr. Trump is heading to breaches with almost all former allies deliberately - doing a fantastic job in this regard BTW.
So reserve positions are needed more than ever and have to be finalized as soon as possible. This is exactly what Mr. Ewing has described here and this is nothing but "Strategy for beginners, third lesson."
When Mr. Trumps trade war fantasies will lead to a situation when long term investments will turn to in other countries this is going to be hardly undone - particularly considering critical US debt burdens, the well known steady growth especially of Asian nations and the fact that they have already recognised the US mistakes Mr. Sanders has described correctly. They have decided to avoid in their way to prosperity, agreed by many Europeans who think the same way in this matter and had also adopted an other course for themselves for decades.
So it´s a turning point. US is heading the wrong direction even from an American point of view. ALL others will be prepared - soon.
Until that fine day when the US re-enters the free world's center stage, i.e. after US voters correct the anomaly, we may be hopeful, but only so much, that the EU (re)gains some economic, political and, finally, even common hard power, turning to new partners around the world and keeping the autocrats at bay.
If, however, those European nationalists that feel freshly emboldened by Trump's vision of "[insert your national ego] first" succeed in dividing the EU, they will be the first to succumb to this new and old (soo 19th-century) "system" of the rule of force. Looking at you, Brexiteers, now so desperate for that free trade agreement.
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It's going to be quite the century. I'm thinking America's trade war will be the proverbial straw, and that everything will shift into a new configuration. I think Europe would come out way better if they stuck together, but their own versions of the Donald seem to be gaining steam.
The US will have to acknowledge that we have 4% of the worlds population, consume 25% of the natural resources of the world. The rest of the world will demand that the US understand that it isn't going to be the world superpower and the destructive policies of the neoconservatives are unsustainable. After the collapse of Russia in 1995 the US had great opportunities to unite the world but instead decided to light the Middle East on fire with one bad foreign policy mistake after another. The terrorism we experience today is 'Blowback" as described by Chalmers Johnson in his book by the same name. After all this time in Afghanistan and Iraq we have nothing to show for our insane policies instigated by Geo W Bush. The Bush Administration is long gone but the American people are stuck with their failed policies with no sight in end to resolve the social instability. Looking at the world through non American eyes, I wouldn't blame the world for shunning the US since the US no longer represents what Alexis de Tocqueville described in his 2 volume treatise entitled "Democracy in America". Nothing stays the same and everything changes and the US needs to realize that the world changes daily and the world despises nations that are bullies, like the US.
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@jeff bunkers
First Bush and then Obama. Trump simply CANNOT be as bad as these two!
Good luck with that, Europe. America is a $17.5 BILLION economy with consumers that can afford to buy your goods, unlike Asia for the most part. We also subsidize your defense agianst Russia, paying 12 TIMES MORE for NATO (an organization I strongly support because it works) than the next leading contributor. So... yeah, good luck with that.
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@David Ricardo. Rest of the world will be just fine without your kindness and your "huge" economy. China is catching up and so is the rest of the world. So please keep your money, nobody needs it. Better spend it on your crumbling infrastructure and schools.
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@DavidRicardo Typed too fast.. US GDP is $17.2 trillion, not billion. Also, the US contributes 3.61% of GDP. Germany contributes 1.19% while building a pipeline for Russian energy. In other words, the US is subsidizing Europe’s social welfare spending by allowing them to be free-riders on defense.
@David Ricardo
Good luck with that, David.
Most of the money in the US lies in the hands and wallets of the wealthiest (made even wealthier by the Republican tax cuts) - they will continue to purchase European goods. Just ask Melania and Ivanka.
The rest of us don’t have the money to buy much.
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Trump is correct on one thing. Previous Presidents on both parties put us in this bad situation of running huge deficits for the benefit of big corporations. This is bad capitalism
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@MT And Trump's economic so-called policies will make it all worse. He clearly has no understanding of economics, trade or tariffs.
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@MTThis is an astonishing comment in the light of the recently enacted tax cuts and their effect both long-term and short.
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@MT
Trump is correct about WHAT? Previous presidents ran up deficits? This has to be the most marvelously backwards thing I have read today, and that's saying something in the era of Trump.
Trump, who lead the charge for a massive cut to corporate tax rate, has done more than any past president in the last few decades to benefit big corporations at the price of increasing the federal deficit. The federal government actually had a budget surplus when Bill Clinton was president. The government had to run a deficit under Obama to halt a downward spin of recession by injecting capital into the economy.
So seriously, what the heck are you talking about? Is this just how things are in the era Trump? Just go ahead and say the sky is red and up is down because who cares about facts?
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