Friday, 1 June 2018

TRUMP HITS E.U. WITH TARIFFS AT THE PERFECT TIME


You've got to hand it to Trump, his timing is perfect. In fact, he couldn't have picked a better time to launch a trade war with the EU by slapping a 25% tariff on steel and a 10% one on aluminium. 

Of course the E.U. will make a token response -- putting some unimportant tax on some minor US agricultural products, say -- but Trump will win this round and boost his "Rust Belt" voter base in time for the mid-terms because the E.U. is particularly weak at the moment, thanks to events in Italy, where a rebellion of the Italian voters has now put a strongly Euroskeptic government into power.

Not only this but there has also been a corruption scandal in Spain, with its Prime Minister Mariano Rajoy forced to resign as a consequence. More chaos and more weakness for Trump to take advantage of.

Amazingly, the timing of the tariffs was decided six months ago, when Trump first announced them but granted the EU a six month exemption. So, either he had some incredible foreknowledge of how the Italian election would go, or he just got lucky.

But the fact is the EU has been weakening on many fronts for some time, with the rise of Italian populism being the latest blow.

The present situation -- US tariffs, Italian rebellion, Spanish chaos, etc. -- could also be good for the UK, which is trying to leave the EU. But don't expect British Prime Minister Theresa May to see that as the woman is an idiot.

Even though the UK has negligible steel interests, which are humiliatingly owned by an Indian company, May has already criticised Trump's move even though it has greatly strengthened her bargaining hand against the EU.
“I am deeply disappointed at the unjustified decision by the US to apply tariffs to EU steel and aluminium imports,” she said. “The US, EU and UK are close allies and have always promoted values of open and fair trade across the world.

Our steel and aluminium industries are hugely important to the UK, but they also contribute to US industry including in defence projects which bolster US national security.”
Really, what a stupid myopic cow she is. With the EU on the floor like this, now is the time to join Trump in kicking them and get the sweetest Brexit deal possible. 



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