It is very disturbing that many are justifying the EU's trade war surrender to Trump by saying: 'we have to do it otherwise the US won't defend Ukraine' Will EU citizens accept being US vassals in order to stop Ukraine becoming a Russian vassal? Full video: davekeating.substack.com/p/video-what...
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or to put it another way. MAGA voters were cheering & hollering "U-S-A" all night after the "biggest trade deal ever" was "done" by shaking hands with Ursula. Meanwhile, no deal was actually done and Europeans talk about "the start of a process".
LIVE: European Trade Commissioner Maros Sefcovic reacts to EU-US trade deal youtube.com/live/VXo02A7...
but EU member states were already buying US energy and weapons. How do you surrender to something you're already doing? Trump got his "biggest deal ever" headline and has already moved on to giving putin "10 or 12" days to end the war....as if he has an amazon delivery that day!
As the Wall Street Journal points out, as it slates the trump deal, "Sorry Mr President, but, Europe is already the largest foreign investor in the US." There is nothing (for Americans) to celebrate. Moving from 2% to 15% tariffs is inevitably going to drive up inflation. It's bonkers! 3/5
This is a good explainer of why what the EU has done has destroyed the global rules-based trade order and locked it into servitude:
In fact it seems to me that the people resolutely defending von der Leyen right now and deluding themselves into thinking the EU is playing chess while Trump is playing checkers are remainers in the UK. The EU does bad things sometimes. This is one of those times.
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I'm in Switzerland Dave and the take here is that nothing has actually been agreed and the white house statement is bonkers. It presents tariffs as "EU payments to the US" (e.g., 15% on autos/pharma), exaggerating wins. There are also contradictions on pharma & investments.
"Trump's deal makes headlines – but not economic growth With his trade deals, Trump presents himself as a strong man who enforces US interests around the world. However, the country will not benefit from its power play." www.bazonline.ch/trumps-abkom...