President Donald Trump likes trade wars because he thinks they are “easy to win,” as he infamously put it, and because he thinks they will help improve the trade balance. Trump claims past American presidents have been weak, allowing other countries to take advantage of the United States in trade negotiations. As evidence, he points to the large American trade deficit.
But any economist worth her salt will tell you that the deficit doesn’t reflect what Trump thinks it does.
Instead, it simply reflects the propensity of Americans to spend more than they save and invest.
President Trump and his fellow climate change deniers will not lose sleep over the testimony of former EPA administrators, but they may not be able to ignore for long the growing tide of public opinion. Recent polls indicate elevated concern about climate change among independents and moderate and conservative democrats.
Climate change is now the top concern of over 80% of Democratic voters – higher priority even than healthcare.
Nothing focuses the mind on climate change quite as much as extreme weather events. When scientists first began warning about the impacts that greenhouse gas emissions might have on the climate, the threat was theoretical.
Not anymore. Voters are seeing the impact of climate change in real time.
Rostin Behnam, who sits on the powerful five-member Commodity Futures Trading Commission, told the New York Times in an interview Monday that the financial risks from climate change are akin to those posed by the mortgage meltdown that caused the 2008 financial crisis.
“If climate change causes more volatile frequent and extreme weather events, you’re going to have a scenario where these large providers of financial products—mortgages, home insurance, pensions—cannot shift risk away from their portfolios,” Behnam said. “It’s abundantly clear that climate change poses financial risk to the stability of the financial system.”
Poles like to be reminded of the one time they came to America’s rescue.
On the occasion of state visits, leaders of both countries like to wax lyrical about General Tadeusz Kosciuszko, the Polish military commander who joined George Washington’s army in 1776 and drew up the military defense strategy for the two Battles of Saratoga, the turning point of the American Revolution.
His slogan “For your freedom and ours” became one of Poland’s unofficial mottos in the years to follow, long after he returned to lead an insurrection against Russia.
It is partly due to the historic memories like this that Warsaw’s foreign policy is built around its close relationship with Washington.
The EU does not have a real ‘European foreign policy’ because every country works on its own and member states do not want to give full responsibility to the EU’s High Representative, a former senior French and EU diplomat told EURACTIV Slovakia in an interview.
Pierre Vimont, who helped launch the EU’s External Action Service, also said France cannot give up its UN Security Council seat for the sake of having a single EU seat “for legal and political reasons.”
France’s arms sales in 2018 were worth €9.118 billion, up 30% compared to 2017. Exports to European countries are seeing a strong increase, according to the French Ministry for Armed Forces. EURACTIV’s partner Brussels2.eu reports.
For the first time, the sale of weapons from France to Europe represents 25% of France’s total sale of weapons, which amounts to a total of €2.293 billion. This is compared to an average of around 10% in previous years.
The next European Commission must revamp its trade policy for the next five years to focus on sustainability, writes Jude Kirton-Darling.
We still have four months to go before the new European Commission is appointed, but officials at DG Trade – the institutions’ arm responsible for conducting the EU’s international trade policy – would do well to reflect on the European election results.
The European Parliament’s champions of free trade – a block comprised of the EPP, ALDE and ECR groups – has lost 15 seats and is now 29 seats short of a majority. Meanwhile, groups that are staunchly hostile to trade deals – the GUE, ENF and EFDD groups – have gained 20 seats.
This new set up could make matters difficult for the Commission if it stays on the same track.
America cannot have close security, intelligence and technology ties with Europe unless the EU cuts ties with Chinese tech giant Huawei and embraces “Western telecom industry”, the US ambassador to the European Union told EURACTIV in an exclusive interview.
Gordon Sondland also said the EU is “quite protectionist by nature” but added he expects the new European Commission, due to take office in November, to “start on a fresh page and on a new footing with the United States.”
I don’t think we’re foes any more than General Motors and Ford are foes. They’re friendly competitors, they’re each trying to gain market share – and I think so do the US and the EU. They are each trying to gain market share and currently the EU has a greater percentage of the US market share, than the US does of the European market – and we’re trying to rebalance that. It makes total sense to me.