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Germany’s Largest Auto Makers Support Abolishing EU-U.S. Car Import Tariffs

Germany’s Largest Auto Makers Support Abolishing EU-U.S. Car Import Tariffs

American media is also ignoring other Trump wins, as oil is flows out so fast it can’t be processed quickly enough and millennials are now moving out .

https://www.youtube.com/watch?v=LOVse3YUrQI

The hysterical America media has certainly been working over-time on its coverage of illegal immigrant children to avoid covering the big wins that President Trump has recently enjoyed.

Legal Insurrection readers will recall the press-induced photo drama of the G7 meeting, which it described as a big loss of prestige of the American president. The media was especially focused on the reaction of German Chancellor Angela Merkle, who appeared to be scolding Trump for his harsh negotiating style.

It appears that Trump’s gambit may have paid off. Germany’s big auto makers are now supporting the abolition of all import tariffs for cars between the European Union and the U.S.

The U.S. ambassador to Germany, Richard Grenell, brought the proposal for a broader industry trade pact to the Trump administration on Wednesday, according to people familiar with the situation.

That would mean scrapping the EU’s 10% tax on auto imports from the U.S. and other countries and the 2.5% duty on auto imports in the U.S. As a prerequisite, the Europeans want President Donald Trump’s threat of imposing a 25% border tax on European auto imports off the table.

Over the past few weeks, Mr. Grenell has held closed-door meetings with the chiefs of all major German automotive companies, including bilateral meetings with the CEOs of Daimler AG , BMW AG and Volkswagen AG , which operate plants in the U.S. Overall, Germany’s auto makers and suppliers provide 116,500 jobs in the U.S., according to the Association of German Automotive Manufacturers.

However, that isn’t the only win for Trump’s economy. As we will need gas for all those luxury German cars, it is lucky that oil production is booming.

In fact, the fastest-growing oil producing region in the United States, the Permian, is near the limits of its pipeline takeaway capacity and some producers may be forced to shut in wells because they can’t process the fuel fast enough.

We will reach capacity in the next 3 to 4 months,” Pioneer’s chairman Scott Sheffield told Bloomberg in an interview on the sidelines of an OPEC conference in Vienna, which is attended by representatives of some U.S. oil companies.

“Some companies will have to shut in production, some companies will move rigs away, and some companies will be able to continue growing because they have firm transportation,” Sheffield told Bloomberg, commenting on the Permian constraints that threaten to slow down the relentless pace of production growth.

That’s great, because Americans are going to need fuel to drive to all the jobs they are getting! Especially the millennials, who are now moving out of their parents’ homes.

The number of 18- to 34-year-olds living with parents last year edged down from 2016, according to new data from CoStar Group, a commercial real estate information company in New York.

Last year, 31.5 percent of that age cohort were living with Mom and Dad, down slightly from more than 32 percent in 2016. While still higher than the long-term average of under 28 percent, it’s a downward trend the firm expects to continue due to the strength of the job market and overall economy.

“There are more individuals in that age cohort who are employed,” said Michael Cohen, director of advisory services at CoStar. “We also should see some wage gains in that age range. … Both of those things help.”

I am not tired of all this winning. I doubt I am the only one, as the November election will probably indicate.

No wonder the elite media is melting down.

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Comments

Hey, I have an idea. Let’s build some pipelines! Yeah, crazy idea, I know…

EU and America have regulatory, including: labor, environmental, and monetary parity, so why would they add an explicit tariff, other than to bias (i.e. distort) the market?

EU is not China. America is not China. Neither the EU nor America are even Mexico. The EU and America can realize equitable trade based solely on supply, demand, and productivity.

Well, pipeline companies in Texas have the power of eminent domain, so the problem is the time it will take to get pipelines working and figuring out a path which doesn’t interfere with with existing pipelines. Pipelines aren’t quite everywhere (close though). but the only fuel item which doesn’t have pipelines is ethanol – and that isn’t because we don’t distill it, but because it is too corrosive to be sent by pipeline (mixed or straight).

The take away here is that the world’s economists know exactly what it means to control 27% of the world’s consumer economy. It is a BBIIGGG stick.

In the case of the US and the EU, all that Trump has asked for is for the EU to engage in what is essentially free trade. As both the US and the EU are on a somewhat even footing, consumer wealth-wise, there is no reason why free trade would not work out well for both parties. And, the business sector in the EU knows this.

US tariffs are being used for slightly different purposes where China is concerned. China has established itself as a pirate economy which is busy stealing everyone elses tech and products. We’ll have to see how they do if they find themselves shut out of the US consumer market.

More fake news. Tariffs are like stabbing yourself a thousand times. Everybody loses with tariffs! We have been told this over and over again right on this blog.

How can anyone still believe that tariffs when applied properly help America? Just because it is helping us? How is that any reason to give up your dogmatic beliefs? Actual experience, who uses that? Who are you going to believe, the free trade worshipers or your lying eyes?

Close The Fed | June 24, 2018 at 8:26 am

This is what I hoped for with Trump: someone that understood the interplays between business, taxes, labor, tariffs, etc., that would leverage that understanding to end American decline.

He’s doing fabulously. If only he could do SOMETHING with Congress. Our own congress is proving more difficult to deal with than foreigners.

I haven’t heard him say one critical thing of McConnell and Chao’s Chinese connections. He’s hit the dems good and hard, but when you have zero scruples and simply want power, you have a lot of options. The dems are using every manuever open to the power-hungry and their indifference to Americans means they have no interest in doing anything to help us.

Astonishing to see a major party’s utter indifference to the country they live in. I’ve been wondering if it isn’t time to join the dem party, just to inject some pro-Americanism into it. It’s so hard for a 3rd party to get on the ballot in America that might be the only realistic way to have pro-America competition to the GOPe.

healthguyfsu | June 24, 2018 at 3:25 pm

“There are more individuals in that age cohort who are employed,” said Michael Cohen, director of advisory services at CoStar. “We also should see some wage gains in that age range. … Both of those things help.”

Well that’s an unfortunate name.

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