Trump Says U.S., EU Must Cut All Tariffs Ahead of Key Talks

[yallerdawg]

What comes out of this meeting will most definitely move the markets today.

Source: Bloomberg, by Nicos Chrysoloras


Taking a firm position.

“I have an idea for them. Both the U.S. and the E.U. drop all Tariffs, Barriers and Subsidies!” Trump said in a Tuesday night tweet. “That would finally be called Free Market and Fair Trade! Hope they do it, we are ready - but they won’t!”

What's at stake today.

European Commission President Jean-Claude Juncker and EU Trade Commissioner Cecilia Malmstrom are due to meet with Trump in Washington on Wednesday. They plan to signal the bloc’s willingness to negotiate a bilateral trade agreement with the U.S. on manufactured goods, or a so-called plurilateral sectoral agreement between all major car exporters which would cut or eliminate tariffs on automobiles globally.

The overtures are a last-ditch attempt to dissuade him from imposing tariffs on European car exports to the U.S., in what could deal a serious blow to the 28-nation bloc’s economy. The Stoxx 600 Automobiles & Parts Index fell by 1.4 percent at 1:03 p.m. in Brussels ahead of the meeting.

FYI - Ford pick 'em up trucks are No. 1 vehicle sales in America. Ever wonder why?



Read it all at: https://www.bloomberg.com/news/articles/2018-07-25/trump-suggests-cutting-all-tariffs-ahead-of-key-meeting-with-eu