Trump Is Threatening Europe With Tariffs. Is It Ready?

THE NEW YORK TIMES: The incoming president promised “tariffs all the way” unless Europe bought more U.S. oil and gas. European officials have no clear strategy for avoiding a trade war.

President-elect Donald J. Trump’s threats of tariffs on allies and adversaries alike have unsettled companies and governments across Europe, setting off a scramble for what they fear could be a trans-Atlantic trade war.

Their nascent plans, including a closely guarded effort at the top levels of the European Commission, appear to be more proactive than what they were the first time Mr. Trump took office. But any attempt to form a united front on trade could be hampered by the sclerotic politics across much of Europe.

The French and German governments both collapsed this month. Austria and Belgium are struggling to form governing coalitions long after their most recent elections.

And no clear consensus has emerged on how to respond to whatever Mr. Trump might have in store. Divisions are already emerging between officials who favor a strategy of retaliation if he tries to impose new taxes on European exports and those who favor negotiation. » | Jim Tankersley, Jenny Gross, Liz Alderman and Melissa Eddy | Reporting from Washington, Brussels, Paris and Berlin | Friday, December 20, 2024

Yikes! Industries Warn of Devastating Effects of Trump's Tariffs; Trump Ignores His Own Poor Record

Nov 27, 2024 | Despite having seen how tariffs increased consumer prices in his first term, Donald Trump is apparently set on starting new trade wars with Canada and Mexico by hitting both major trading partners with significant new tariffs. While major American industries warn of devastation from those tariffs, other industries, from farming to construction are warning about further devastation if Trump follows through on his mass deportation plan. Alex Wagner discusses with MSNBC's Chris Hayes and Faiz Shakir, founder and executive director of More Perfect Union.

Mexico’s President Raises Prospect of Retaliatory Tariffs on U.S. Goods

THE NEW YORK TIMES: President Claudia Sheinbaum responded to President-elect Trump’s threat to impose high tariffs, saying such a move would inflict damage on both countries.

Mexico’s president, Claudia Sheinbaum, hit back on Tuesday morning at President-elect Trump’s vow to impose 25 percent tariffs on all products coming into the United States from Mexico, signaling that her country was prepared to respond with retaliatory tariffs of its own.

Ms. Sheinbaum also said that raising tariffs would fail to curb illegal migration or the consumption of illicit drugs in the United States, an argument that Mr. Trump had made in his warning on tariffs.

“The best path is dialogue,” Ms. Sheinbaum said at her daily news conference, calling for negotiations with the incoming Trump administration while laying out steps that Mexico has already taken to assuage some of Mr. Trump’s concerns.

Ms. Sheinbaum, reading from a letter she is planning to send to Mr. Trump, noted that illegal crossings at the border between Mexico and the United States had plunged from December 2023 to November 2024, largely as a result of Mexico’s own efforts to stem migration flows within its own territory. » | Simon Romero | Simon Romero reports on Mexico, Central America and the Caribbean | Tuesday, November 26, 2024

Leer en español:

La presidenta de México responde a la amenaza de aranceles de Trump: La presidenta Claudia Sheinbaum leyó el martes una carta destinada al presidente electo Donald Trump en la que habló de las medidas que tomaría su país en respuesta. »

THE WASHINGTON POST:

Trump’s ‘America First’ bullying is back: President-elect Donald Trump isn’t wasting time setting the stage for his second term, with plans for tariffs on goods from Mexico, China and Canada. »

Richard Wolff: Trump's Tariffs Will Make Inflation EXPLODE

Nov 25, 2024 | Trump wants to slap tariffs on China and other countries. What are tariffs? How will they affect your wallet? Dr. Richard Wolff explains.

Message to Americans: Do all you can to enjoy this Thanksgiving and this Christmas. Enjoy them to the max this year for you’re about to be taken on a Trumpian helter-skelter for which you will definitely need lots of pills to quell motion sickness! If rollercoasters make you vomit, the four years beginning in January will make you throw up “bigly”. You Americans asked for this, you are the ones who brought this on yourselves. Unfortunately, you showed little concern for the fall-out for us in the relatively saner world. You forgot to factor that into the equation. As an American might say: Gee thanks! – © Mark Alexander

Goldman Sachs Tells Trump Administration that Americans Are Paying 100% of His China Tariffs

Goldman Sachs has confirmed that the tariffs Trump has put in place on China are actually being paid by American consumers and businesses. But not just “some” of the tariffs – 100% of the tariffs are being paid by American citizens. Trump falsely claims that China is paying for it, but the truth refuses to remain hidden. Ring of Fire’s Farron Cousins discusses this.

World Financial Markets Suffer as US-Turkey Ties Decline, Washington Vows to Keep Sanctions

The US says economic sanctions against Turkey will remain in place even if Ankara releases an American pastor, whom it arrested on suspicion of terrorism offences. That's after both sides imposed further tariffs on each other. Concerns over whether the situation has escalated too much, were raised at the US State Department.

Turkey Willing to Talk with US as Equals over Tariffs and Pastor | Al Jazeera English

Turkey says its ready to enter talks with the United States regarding the ongoing trade and diplomatic disputes. The US insists that the steel tariffs are not related to Turkey's detention of Andrew Brunson, a US pastor that Ankara links to the 2016 failed coup attempt and are based on national security grounds. Turkey's foreign minister has said that it is prepared to negotiate with the US as equals, but will not be dictated to. The White House, however, has not changed its threatening rhetoric thus far. Al Jazeera's Mike Hanna reports from Washington, DC.

Trump Grants Himself King-like Powers With FART Act

The Trump administration has put together a draft of new rules. The draft of the new rules are collected under what they’ve called the United States Fair and Reciprocal Tariff Act – in other words, Trump wants to enact the FART Act to grant himself new powers over trade and tariffs that rebuke both US and international laws. Trump is drunk with power, and it only seems fitting that his FART Act exposes it. Ring of Fire’s Farron Cousins discusses this.

Brexit: Theresa May Pressed on Future Relationship with Europe

Theresa May acknowledged in her speech today that Britain will have less access to EU markets after Brexit. However, she also asked for some special rules to apply to the UK after Brexit. Meanwhile, Brussels says it will not accept cherry-picking. Also, Silvio Berlusconi returned to the political center stage in Italy ahead of elections on Sunday. And Donald Trump caused an international uproar over steel and aluminium tariffs.