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

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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