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Who felt the greatest relief at the announcement of a "new phase" with no more homework (especially automotive) in trade relations between the United States and the European Union can to deduce, without too much effort, from the stock market? the titles of the German automakers Bmw and Volkswagen strongly increased the session. Volkswagen immediately gained 3.43%, Bmw 4% and then gradually decreased. At the close of trading, Frankfurt stands out from the European markets thanks in particular to the automotive sector, with + 1.83% followed by + 1.4% of Piazza Affari driven by the rebound of FCA after the shock of yesterday for the disappointing accounts of the second quarter
The agreement reached a bit surprisingly during the visit of the President of the European Commission Jean-Claude Juncker to the White House is a first step forward in the distension of relations, which in the next four months (enough for Donald Trump, support the misconceptions, to bypbad the mid-term elections in November) should be defined in detail. The goal is "zero tariff," said the US president, and during this period of negotiations, there is Washington's pledge not to continue on the way repeatedly threatened to implement import duties on European cars. those on aluminum and steel. Confirmation came from US Treasury Secretary Mnuchin: "During the negotiations of punitive measures on cars". Chancellor Merkel's spokeswoman called the meeting yesterday "constructive". "Government welcomes agreement on constructive trade action The European Commission can continue to count on our support," he said. The German Foreign Minister Maas did not hide his satisfaction: "Europe has shown that it can not be divided, and we have seen it: when the" Europe is united, our word has a weight ".
it is quickly explained: already with the 25% tariffs taken in June on steel imports from the European Union, Germany has paid the highest costs high with its 950 thousand tons exported in 2017 over the Atlantic. The export of Berlin pushed by the internal devaluation (to the detriment of the European partners) was already finished in the line of sight of Barack Obama, then of Trump since the day of his inauguration to the White House. On the other hand, without Berlin, the United States would be in positive balance with Europe and end up in trade deficits of nearly 60 billion, 75 only in Germany. Only in the car, according to the VDA, the badociation of the German auto industry, the US trade deficit with Germany is 23.8 billion euros. The same US president has repeatedly cited German auto giants as "Mercedes and BMW" as "unfair competitors" in the US market. In a trade war, the German industry would have risked losing us twice: on exports to the USA (about 500 thousand cars a year) and on exports to China from its factories in the United States (more than 800 thousand cars a year)), with the counter-rights of Beijing. Naturally, tariffs would have had an impact on all European car exports, including Italy: in the United States, they have a 25% market share for a value of about 192 billion euros. # 39; euros. China follows the Old Continent, then Turkey, Japan, South Korea.
To understand what Trump (at least verbally) got from the agreement with Juncker, just go back to the top of NATO. A week ago. There was about a month of the G7 in Canada where the tycoon had already marked the differences with the Europeans, even during the meeting with the allies of the atlas, the direct thrust of the US president was aimed at Berlin. "Germany is a prisoner of Russia's energy and we should protect it from Russia, we explain it," he said, before asking a new effort to allies of NATO to double military spending. In the joint statement by Trump and Juncker, we read: "In the energy sector, the EU will import more liquefied natural gas". The other sectors concerned, besides the energy sector, are services, chemicals, pharmaceuticals, health products and especially soybeans, a sector that Trump was already ready to support by allocating $ 12 billion. to farmers in case of counter-rights. from Brussels. "The EU – said the US president – will immediately increase soybean imports from the US In return, the White House has shown willingness to revise the rights already in place on the US. 39, steel and aluminum
The agreement on soy closely concerns Italy, the leading European producer of legumes (about 50% according to farmers), but still deficient and therefore forced to From abroad, Coldiretti invites to "monitor" the effects of the agreement.In the meantime, Trump celebrates: "We have just opened Europe, we have opened Europe for you, dear farmers, it will be a good thing for everyone, "he said at a meeting in Iowa
., and the United States, which 830 million citizens (together represent more than 50% of global GDP), Berlin's understandable satisfaction for the truce compensated by the cold prudence of Paris. France turned a nose and, through the Minister of Economy, Bruno Le Mayor, asked for "clarifications" on the agreement reached in Washington, but fixing his red lines. Beginning with the rejection of a new "big market" commercial (TTIP type) between the EU and the United States. "A good business discussion – warns the Paris minister – can only happen for clear reasons and can not be put under pressure". Then, "agriculture must stay out of the discussion because non-tariff barriers to agriculture are not negotiable: we have high sanitary, food and environmental standards as well as production rules. which guarantee the protection and safety of consumers ". On this point, we must not "transpose".
Finally, there is "our interests to defend: the access to the American public markets is largely blocked for us Europeans and this must be part of the discussions: each of the parties, the Europeans as Americans must find themselves in this confrontation and each trade agreement must be based on reciprocity ". In fact, the European public procurement market is open. The French government fears that a large-scale trade deal with the United States will govern the internal controversy against the mega-trade agreements that constitutes a workhorse of the lepenista opposition and the radical left [19659008] (function (d, s, id) {
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