President Trump ‘Sanctions’ Socialist Europeans

President Trump ‘Sanctions’ Socialist Europeans

President Trump ‘Sanctions’ Socialist Europeans

Thursday night, a frightened Emmanuel Macron told US President Donald Trump that tariffs on steel and aluminium imports from the European Union were “illegal” and that the EU would respond in a “firm and proportionate manner.”

The call between the young French President and President Trump came after the US announced that steep metals tariffs would be imposed on the European Union, Canada and Mexico as of Midnight.

Photo by Jacques Witt

Mr. Macron has tried to garner a good relationship with President Trump, spoke to him urging him to take part in negotiations with the EU, China and Japan to strengthen the rules of the World Trade Organisation (WTO)

Earlier Thursday Mr. Macron told journalists that he deplored the American decision.

“I think this decision is a mistake in many ways because it responds to existing international imbalances in the worst way — by breaking up and creating economic nationalism.

“And nationalism is war.” he added.

French Finance Minister Bruno Le Maire said that France will refuse to enter into trade talks with the United States while punishing steel and aluminum tariffs are in effect.

“We refuse to negotiate under pressure,” Mr. Le Maire told reporters while en route to a Group of Seven meeting in Canada. And “being hit by the tariffs will not help us to open the door to any kind of negotiation.”

The leverage in this matter is with the US, not the EU, they are being severely ‘sanctioned’ with the tariffs, thus weakening the Euro further.

US Commerce Secretary Wilbur Ross said that no reprisals over the measure will have an impact on the American economy. And he believes there will not be a long-term impact on relations with affected countries and they “will get over this in due course.”

President Trump said the US has been unfairly treated in trade with its neighboring and oversees partners. And that the US will immediately respond to any new EU trade barriers with a tax on cars produced by European automakers.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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