Renegotiating not abandoning and Trump always said he would do this, it will be directed against Mexico and China not the UK
I wouldn't count on that. Trump and his Commerce Secretary have said they want to use U.S. negotiating power to re cast trade deals in favour of the US. The UK has a positive trade balance with the U.S.. They will be looking to reduce that.
The problem with the US trade deficit comes from Mexico and China and Japan, not the UK, if the US is focused on renegotiating trade deals it will be those nations the US will be focused on, in the meantime the UK can keep trade as now. Plus May is one of the few world leaders Trump has much time for, the EU will be a target before the UK is
Scarcely watched any rugby (checked the England score, though. Disappointing) but was perplexed and intrigued by the 100 minute game in France. The Welsh must be a bit pissed off.
Seems to me Sturgeons gone full out hysterical nat. Could work.
Brilliant speech. Particularly welcoming EU and English migrants to help build Scotland.
One statistic I heard today was very revealing. Scotland's productivity growth in the last 10 years has been 10% - whereas in England it has been 0.1%.
But she had the guts to say it. I can now see why the Labour party has become an irrelevance in Scotland. She has parked her tank in Labour's lawn and have dug in. No wonder the SNP is now the left party in Scotland.
The SNP is now the main social democratic party in Scotland but that does not mean Scots share all its aims, especially on immigration where Sturgeon seems to want an open borders Scotland
They'll be punished at the ballot box then, won't they. What's your prediction for the council elections?
Not necessarily as the same poll has over 40% of Scots not seeing immigration control as a major priority ie the majority of whom will be voting for the SNP (although even the SNP had some Leave voters). I expect the SNP to get around 45-48% similar to the level they got in the 2016 Holyrood poll but the Scottish Tories to again be up at the expense of Scottish Labour
Breaking news, party with policies unpopular with majority of the electorate will be voted for in massive numbers.
No wonder you have to cling on to subsamples.
No it is simple maths, Scots want tighter border controls by 57% to 43%, so if most of those 43% vote SNP the SNP could still easily come first in the local elections in Scotland
FWIW I'd say many of the 43% will be Libdem, Green, SLAB and the odd Tory fruit farmer
Renegotiating not abandoning and Trump always said he would do this, it will be directed against Mexico and China not the UK
The WTO does not mentions countries by name as far as I am aware. A protectionist WTO is protectionist for everyone.
A great thing for a country where 30% of its GDP comes from foreign trade.
If Trump withdrew the US from the WTO or did a major renegotiation of terms he could well do a free trade deal with the UK, Israel, Australia, Canada and a few selected others while imposing heavy tariffs on goods and services from the likes of China, Mexico and quite possibly the EU. The US is of course the largest destination for UK exports
The US already has free trade deals with Canada, Australia and Israel.
Ultimately, the US wants to leave the WTO so it can impose terms on others. The WTO stops large countries from bullying smaller ones. We, as a mid sized country, benefit from the world's trade being rule based. If the US were to leave the WTO so as to levy discriminatory tariffs, that would not be a positive for the world.
Ultimately, Donald Trump has a fundamental misunderstanding. Trade deficits are not caused by having too low tariffs with China, or a too expensive currency. If they were, then Switzerland (zero tariffs with China, and an incredibly expensive currency) would have a massive trade deficit. It actually has a trade surplus.
Trade balances are the result of consumers spending too much and saving too little. There is a near perfect correlation between savings rates and trade balances. So long as American consumers wish to consume more than they make, the US will run a trade deficit.
To solve America's trade deficit you need to implement policies that - as Germany did in the early 2000s - depress consumption. This works two ways: firstly it means you suck in less in exports immediately. And secondarily, it lowers the cost of capital for business, encouraging investment, and - longer-term - boosting exports.
What is the US doing instead? They are implementing a massive stimulus package that will... oh yes... cause US consumer spending to rise, paid for by rising US debt.
Seems to me Sturgeons gone full out hysterical nat. Could work.
Brilliant speech. Particularly welcoming EU and English migrants to help build Scotland.
One statistic I heard today was very revealing. Scotland's productivity growth in the last 10 years has been 10% - whereas in England it has been 0.1%.
But she had the guts to say it. I can now see why the Labour party has become an irrelevance in Scotland. She has parked her tank in Labour's lawn and have dug in. No wonder the SNP is now the left party in Scotland.
The SNP is now the main social democratic party in Scotland but that does not mean Scots share all its aims, especially on immigration where Sturgeon seems to want an open borders Scotland
They'll be punished at the ballot box then, won't they. What's your prediction for the council elections?
Not necessarily as the same poll has over 40% of Scots not seeing immigration control as a major priority ie the majority of whom will be voting for the SNP (although even the SNP had some Leave voters). I expect the SNP to get around 45-48% similar to the level they got in the 2016 Holyrood poll but the Scottish Tories to again be up at the expense of Scottish Labour
Breaking news, party with policies unpopular with majority of the electorate will be voted for in massive numbers.
No wonder you have to cling on to subsamples.
No it is simple maths, Scots want tighter border controls by 57% to 43%, so if most of those 43% vote SNP the SNP could still easily come first in the local elections in Scotland
FWIW I'd say many of the 43% will be Libdem, Green, SLAB and the odd Tory fruit farmer
Probably around a third of SNP voters want tighter immigration controls
Renegotiating not abandoning and Trump always said he would do this, it will be directed against Mexico and China not the UK
The WTO does not mentions countries by name as far as I am aware. A protectionist WTO is protectionist for everyone.
A great thing for a country where 30% of its GDP comes from foreign trade.
If Trump withdrew the US from the WTO or did a major renegotiation of terms he could well do a free trade deal with the UK, Israel, Australia, Canada and a few selected others while imposing heavy tariffs on goods and services from the likes of China, Mexico and quite possibly the EU. The US is of course the largest destination for UK exports
The US already has free trade deals with Canada, Australia and Israel.
Ultimately, the US wants to leave the WTO so it can impose terms on others. The WTO stops large countries from bullying smaller ones. We, as a mid sized country, benefit from the world's trade being rule based. If the US were to leave the WTO so as to levy discriminatory tariffs, that would not be a positive for the world.
Ultimately, Donald Trump has a fundamental misunderstanding. Trade deficits are not caused by having too low tariffs with China, or a too expensive currency. If they were, then Switzerland (zero tariffs with China, and an incredibly expensive currency) would have a massive trade deficit. It actually has a trade surplus.
Trade balances are the result of consumers spending too much and saving too little. There is a near perfect correlation between savings rates and trade balances. So long as American consumers wish to consume more than they make, the US will run a trade deficit.
To solve America's trade deficit you need to implement policies that - as Germany did in the early 2000s - depress consumption. This works two ways: firstly it means you suck in less in exports immediately. And secondarily, it lowers the cost of capital for business, encouraging investment, and - longer-term - boosting exports.
What is the US doing instead? They are implementing a massive stimulus package that will... oh yes... cause US consumer spending to rise, paid for by rising US debt.
Certainly if Trump was sensible he would actually retrain the workforce to encourage more high-skilled manufacturing and also boost US farming so that he boosts US exports and gets more of the extra US consumption spent on domestically produced goods
Comments
Scarcely watched any rugby (checked the England score, though. Disappointing) but was perplexed and intrigued by the 100 minute game in France. The Welsh must be a bit pissed off.
Ultimately, the US wants to leave the WTO so it can impose terms on others. The WTO stops large countries from bullying smaller ones. We, as a mid sized country, benefit from the world's trade being rule based. If the US were to leave the WTO so as to levy discriminatory tariffs, that would not be a positive for the world.
Ultimately, Donald Trump has a fundamental misunderstanding. Trade deficits are not caused by having too low tariffs with China, or a too expensive currency. If they were, then Switzerland (zero tariffs with China, and an incredibly expensive currency) would have a massive trade deficit. It actually has a trade surplus.
Trade balances are the result of consumers spending too much and saving too little. There is a near perfect correlation between savings rates and trade balances. So long as American consumers wish to consume more than they make, the US will run a trade deficit.
To solve America's trade deficit you need to implement policies that - as Germany did in the early 2000s - depress consumption. This works two ways: firstly it means you suck in less in exports immediately. And secondarily, it lowers the cost of capital for business, encouraging investment, and - longer-term - boosting exports.
What is the US doing instead? They are implementing a massive stimulus package that will... oh yes... cause US consumer spending to rise, paid for by rising US debt.