Any trade war between the European Union and the United States would hit the islands´ economy because the U.S. is a key trade partner. According to official figures the U.S. is the biggest recipient of Balearics goods outside Europe.
Trade war with Trump would hit the Balearics
U.S. is a key export market for the islands
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Morgan WilliamsHe rescinded them, not because, according to you, he made a “mistake”, but because his extortion tactic (your words, not mine) worked. By the way, only a few days ago you laughed at my suggestion that the world’s economy was more interrelated than ever. I see that you are now basically agreeing with me. Thanks !
TCExactly
"Spain wants an open global economy where all will win." Someone needs to tell the EU snd Spanish presidents.
Yesterday, the stock markets crashed briefly, until Trump quickly rescinded the "Tariff" executive orders against Mexico and Canada. Temporarily, he says. The markets responded and climbed back to nearly the same levels prior to that little mistake. The un-crash of the markets wasn't really about Mexico or Canada. It was that market traders realised that these "tariff" threats aren't necessarily to be taken seriously. They're just an extortion tactic. In any case, US markets are already in dangerous territory with or without "tariff" threats. The Trump machine wasn't paying attention, and perhaps still isn't, although that rapid back pedaling indicates that he now understands that anything that spooks the markets has the potential to crash it irreparably. And that would probably end his political career and his aspirations to get a 3rd and/or 4th term. The morale of the story is this: If Trump manages to crash the global economy through arrogant ideological ignorance, then the last thing the Balearics will be worrying about is sales of wine and olive oil. Or tourism.