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.
Three percent of exports go to the United States from the Balearics, almost the same percentage as exports to the United Kingdom. Art and food articles are the main exports which would be hit if President Donald Trump decided to put tariffs on products from the European Union.
Spanish Economy Minister, Carlos Cuerpo, said: the European Union must remain united and avoid being naive in the face of threats by U.S. President Donald Trump to levy tariffs on its products.
Cuerpo told Spanish radio station RNE that the EU was open to trade and in favour of a globalised world market, but added that the bloc should make sure it was in a position to compete in equal conditions with rivals from other countries and protect its companies.
In separate comments on the sidelines of an event in Madrid, Industry and Trade Minister Jordi Hereu on Monday sounded a more conciliatory note, saying that Spain wanted an open global economy "in which all win, not only us".
Spanish companies that would suffer most from tariffs are manufacturers such as car makers and producers of chemicals and consumer goods, Sabadell bank said in a note to investors, while oil producers could benefit from a stronger dollar.
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Richard PearsonI noticed you didn't mention the ' disastrous economic policies' of ' socialist' Spain, as the economy here has far higher growth and lower inflation than the Tories in the UK achieved in 14 years. Talking of labour in the UK, they are trying to sort out the ****show that the Brexit morons Johnson and truss created, and that's no easy task.
Morgan WilliamsAnd if you had bothered to read my comment saying that I had perused it (plus others to confirm what now bankrupt Politico was saying) you would see that I did. I could also ask why Obama didn’t try the same trick with Hillary Clinton. You know the answer. He probably did with Biden, but not officially, eg he broke the law, but that’s par for the course with the Democrat Party. You keep going on and on and on about Trump. Shouldn’t you be more worried about the disastrous economic policies the left wing governments in Germany and the UK, not to mention the EU parliament, are having in their respective countries and region ?
Richard Pearson"Let’s talk in four years time after President Vance and his team have been elected." Yes, if you had bothered to read the link I gave you, that's precisely one of the most likely, and legal loopholes for Trump to get a third (or more) term. Elect Vance president, with Trump as a VP running mate, then Vance steps down. Trump's third term. Rinse and repeat in 4 years. And a perfectly plausible loophole, right out of Putin's playbook. Yet again, that entirely depends on Trump not crashing and burning in this term. Considering the economic bubble the US is already in, and the pace of indiscriminate slash and burn being conducted by this president and his billionaire cronies, the likelihood of a major market crash in addition to large scale public uprising is already high (one warning crash was just narrowly averted). And the longer they're be allowed to do it with impunity, the more overconfident they become, and the risk of a unwitting politico-economic crash and burn only increases.
To complete with equal conditions. Well it seems the minister is getting lessons in free trade. The “farm products sector “ is the orange Dons target. So chlorine washed 🐓 , USA pork, hormone beef and GM crops on the way. The end of the CAP. Subsidies. And I think the 100% properties tax may be off the table.
The EU will offer to cut tariffs on US car imports as part of a deal to avoid a trade war with Donald Trump, according to a senior lawmaker. Who said the threat of tariffs don’t work ?
Richard PearsonHere’s some recommended reading for you, Richard. She sends a daily email. You might try giving her a read. There’s a chance you could learn something you don’t already “know”. https://substack.com/@hrichardson?r=8t9w8&utm_medium=ios&utm_source=profile
Richard PearsonHere’s some recommended reading for you, Richard. She sends a daily email. You might try giving her a read. There’s a chance you could learn something you don’t already “know”.
Richard PearsonKrugman did propose a 25% tariff on Chinese goods…in 2010. https://seekingalpha.com/instablog/336665-howard-richman/58809-krugman-calls-for-25-percent-china-tariff And Krugman knows how tariffs work, unlike The Donald.
Morgan, could you ask your mate Zoltan to reply to my question next time you see him ? Thanks.
Sorry, but two against one doesn’t seem very fair. BBC left wing media subsidized by the tax paper Politico bankrupt before being previously subsidized by USAid NYT not even bothering to comment. Krugman, isn’t he the one who suggested imposing a 25% tariff on China and predicted that Trump would fail, later proved wrong after he was first elected? Another armchair economist incapable of successfully running a corner shop. I understand he is Rachel Reeves favourite author. My money was on that both Obama and Biden, as well as Harris, would crash and burn. I was right. Let’s talk in four years time after President Vance and his team have been elected. Byeeee