Plan B: Building a trading network rather than retaliating against Trump?

So true Monica

MayBee70

We were in a very good trading network. It was called the EU. Obama warned us that we couldn’t depend on America for trade but people sneered at him, a foreigner telling what to do.

MayBee70 I think you might find the link I posted in my 15:30:48 post interesting.

David49

PoliticsNerd

FriedGreenTomatoes2

Better keep the coal mines, oil rigs and gas pipes open too.
The folly of ‘Net Stupid’ is about to unravel.

What does that even mean and what knowledge is it based on?

Just a guess

It’s the drive to Net Zero that’s keeping fuel prices high making steel making in the UK uneconomic.

50 yrs ago we mined our own coal and iron ore, I remember the iron ore trains going down to South Wales. Thatcher changed all that and it’s reduced year by year ever since.

Thank you!

We were in a very good trading network. It was called the EU. Obama warned us that we couldn’t depend on America for trade but people sneered at him, a foreigner telling what to do.

J52

DH and I were discussing a move such as this, over the weekend. I can’t really see a different option while the US have such a volatile person as President.

‘ Volatile’ is a very mild word to use for that narcissistic, immoral Ego Blob!

I’m not a fan of nationalism really. I don’t think governments (all stripes) are any good at running anything. I think the old BT put me off. (Party line anyone while you wait for a landline?).

Choice is better.

But things re steel have come to this point. Worryingly so.

PoliticsNerd

FriedGreenTomatoes2

Better keep the coal mines, oil rigs and gas pipes open too.
The folly of ‘Net Stupid’ is about to unravel.

What does that even mean and what knowledge is it based on?

Just a guess

It’s the drive to Net Zero that’s keeping fuel prices high making steel making in the UK uneconomic.

50 yrs ago we mined our own coal and iron ore, I remember the iron ore trains going down to South Wales. Thatcher changed all that and it’s reduced year by year ever since.

FriedGreenTomatoes2

Better keep the coal mines, oil rigs and gas pipes open too.
The folly of ‘Net Stupid’ is about to unravel.

What does that even mean and what knowledge is it based on?

Do you agree with nationalisation FriedGreenTomatoes2, isn’t that the route to more state intervention, which is the opposite to what Trump espouses?

Another informed view: www.youtube.com/watch?v=eIxveZB5tdU

Better keep the coal mines, oil rigs and gas pipes open too.
The folly of ‘Net Stupid’ is about to unravel.

Whitewavemark2

Looks as if we are going to nationalise British Steel. No surprise.

Now nationalise water😡☹️😡

Good.
The Commons will sit tomorrow amid fears the Scunthorpe plant could close within days.

Whitewavemark2

Looks as if we are going to nationalise British Steel. No surprise.

Now nationalise water😡☹️😡

Where did you here that Whitewave? I've not been keen on nationalisation in the past but it may the only way. I just hope any new model ensures no group gets too much power, that conflict is minimised, that all workers are considered with no authoritarianism from the unions.

I have seen that there could be moves afoot to change the dominance of the dollar in world trade

That has been tried multiple tomes in the past, has it not?
I could be wrong.

I never consider the EU as stable.
Too many changes of leadership with all the multip[le countries. For starters.

Spain’s prime minister has called for Europe to forge closer ties with Beijing during Donald Trump’s assault on global trade.

Speaking after a meeting with Xi Jinping, the Chinese president, in Beijing on Friday, Pedro Sanchez said: “Spain sees China as a partner of the EU.”

Oh no!

I’m glad we’re not part of the EU Sanchez!

Whitewavemark2

Looks as if we are going to nationalise British Steel. No surprise.

Now nationalise water😡☹️😡

Good.

Looks as if we are going to nationalise British Steel. No surprise.

Now nationalise water😡☹️😡

I hear China has said it won't raise their latest US Tarrif rate any higher, so I'm guessing they have something else tucked up their silky sleeves? It could be China owning $800bn of American Bonds they can dump at any time. Maybe?

Difficult one, do we wait to see what happens to China?
I'm thinking particularly of computer parts and computers currently going to the USA

Yes, we can't completely remodel our economy every time Trump has a hissy fit over something. He is not the pivot point of every decision on the entire globe, much as he would like to think so.

I trust that we arent all hanging around waiting for Trump to tell us what the tariffs will be etc.

That would indeed be foolish.

We need to take charge of our own destiny. Europe is strong, stable and law abiding.

That is the way to go.

Casdon

David49

Our imports come from diverse sources, we buy from the most economic supplier, that hasn’t changed, Trump hasnt affected our trade with third countries (yet)

We buy much of our raw materials based on historic trade links David49, best price has not been the only consideration. I don’t understand why you seem to oppose democratic countries working together in a new bloc to get the best deal for us all, and trading collaboratively. We can’t allow USA to dictate. I wish we weren’t where we are, but we have to find new ways.

I don’t think there is any problem with a trade partnership, the EU is 26 countries cooperating with agreed terms, the UK needs to get closer to them. There not as many historic links as there used to be many Commonwealth countries have found other markets.
When new tariffs are announced we can then remodel our economy accordingly until then is speculation.

Good article.

particularly thought this relevant

"The trouble is that if companies are really to be persuaded to reshore manufacturing jobs to America, then America’s tariffs will need to stay high.
But if they stay high, what incentive do trading partners have to give huge concessions? Mr Trump’s muddled convictions, and the contradictions they contain, will hang over all the many bilateral negotiations his team is about to start"

From this morning's email from The Economist (Zany Minton Beddoes, Editor-in-chief)

It’s been a rollercoaster few days, and as I write this we still have more meetings ahead. But several things are already clear to me. First, this show has only one protagonist who matters: Mr Trump. There is no tariff strategy beyond his whims. Second, although Mr Trump blinked yesterday, don’t think that this Tariff Show is over. America is still engaged in a brutal tit-for-tat trade war with China. (The two countries’ headline tariffs on each other are now 145% and 84% respectively and neither Mr Trump nor Xi Jinping, the Chinese president, wants to lose face by backing down.) America still has a 10% duty on virtually all other countries, by itself a dramatic increase. And while Mr Trump now promises great deals from negotiations with the dozens of countries queuing up to talk to him, he retains his long-held conviction that tariffs are a powerful weapon to ensure manufacturing jobs return to America. The trouble is that if companies are really to be persuaded to reshore manufacturing jobs to America, then America’s tariffs will need to stay high. But if they stay high, what incentive do trading partners have to give huge concessions? Mr Trump’s muddled convictions, and the contradictions they contain, will hang over all the many bilateral negotiations his team is about to start.

That is why, as our cover leader explains, the damage of the past week cannot be easily undone. Yes, markets have recovered from a near meltdown. But Mr Trump has upended the old certainties that underpinned the global economy and introduced extraordinary levels of volatility and confusion. We are, as our cover title says, in the “age of chaos”. That may be exactly what you want in a nail-biting TV show. In the real world, it is a disaster.

MaizieD

^It’s very uncertain however the US dollar is still stable and remains the main international trading currency. For now we wait and see what sensible tariffs are agreed within the 90 day pause.^

I have seen that there could be moves afoot to change the dominance of the dollar in world trade.

And Trump is trying to sack the Head of the Federal Reserve (the US equivalent of the BoE) who remains independent of him . This could affect the stability of the dollar.

I wouldn't place too much reliance on the current hegemony...

Of course a seller can ask to be paid in whatever currency he wishes, the dollar could collapse but I would expect the US treasury to maintain value by whatever means.