While the big news today is focusing on President Trump's meeting with North Korea's leader, Kim Jong Un, there were some interesting developments this past weekend. If you weren't in the loop, the G7 Summit happened and there was a bit of turbulence.
Most of this surrounds the topic of trade and tariffs.
Trump has noted time and time again that he believes the current trade deals are not in favor of America and that the country cannot be taken advantage of any longer. President Trump tweeted the following: "Fair trade is now to be called fool trade..."
In a meeting with French President Macron, Trump noted that there are too many German cars in the US. In the past he's threatened to tax imported German cars at a rate of 35 percent. Obviously, that would increase the cost to purchase a German marque quite a bit and make them more expensive than other US or other imported brands.
So, what say you, Spies? Are there too many German cars in the US? Do YOU agree with Trump's moves?
...Trump told French President Emmanuel Macron during a recent meeting in Washington that there are too many German cars in the United States. He's also raised the issue with German Chancellor Angela Merkel in the past, and threatened to tax German car imports at 35%.
Economists say Trump is missing two key points: German automakers have opened big factories in the United States, dramatically reducing their need to import cars. Plus, targeting German carmakers would hurt American workers and the US economy...
Read Article