Trade Commissioner Cecilia Malmström said: “If the US chooses to put in place WTO-approved countermeasures, it will put the EU in a situation where we have no choice but to do the same.” “In just a few months it will be further decision by the WTO is expected, which will then deal with possible EU punitive tariffs on US products.

Finland’s President Sauli Niinistö described the decision as “” pretty tough “” for Europe. In an initial reaction, Chancellor Angela Merkel stated that she wanted to wait and see what further steps the USA took. But Airbus is “” burdened, so to speak. This has to be said “” sadly “”. Actually imposing the approved tariffs would be “short-sighted and counter-productive,” “said EU Trade Commissioner Cecilia Malmström. According to a list published by the US authorities late on Wednesday evening, the new US punitive tariffs will not just be aircraft and aircraft parts, but under Increase the price of imports of books, cheese, wine, butter, olive oil and coffee from Europe.

An additional 25 percent import fee will be levied on these products starting October 18, but the penalty not only affects exporters in Europe, but also gourmets in the US. Parmesan cheese, Pecorino cheese, Cheddar cheese and Emmentaler are specifically mentioned in the US list. From the point of view of US customers, these products from Europe will be artificially made more expensive by the new punitive tariffs. According to the official list from Washington, a punitive tariff of ten percent should actually be levied when importing aircraft. Arbitrators from the World Trade Organization (WTO) had previously granted the US government the right to impose punitive tariffs of up to 100 percent on goods with a total value of $ 7.5 billion.

The background to this was illegal subsidies for the European aircraft manufacturer Airbus. According to the US, the punitive tariffs should therefore primarily affect products from the countries that were responsible for the subsidies: Germany, France, Spain and Great Britain. Some of the new punitive tariffs therefore only applied to the four countries or even only to one of the countries, but the majority related to products from across the European Union. In the case of olive oil and wine, for example, the focus was only on products from the four particularly affected states. In US circles, it had initially been said that the government in Washington would probably produce a provisional list of products that could potentially be subject to duty – from Airbus jets and helicopters to helicopters about wine, cheese and handbags – specify. The French finance minister Bruno Le Maire warned the US side against imposing punitive tariffs.

These could particularly affect France. In the meantime, the Kiel Institute for the World Economy (IfW) assumes that Germany will be hardest hit by the new tariffs, with export losses of a good two billion euros a year. “If the car tariffs, which are on ice, are added soon, that would shake world trade and put a special strain on German exports”, warned DIHK President Eric Schweitzer.biology essay writing help service Source: ntv.de, jwu / dpa / rts “That is the man who threatens Europe with punitive tariffs on Swiss cheese, among other things: Trump’s trade representative Robert Lighthizer. (Photo: REUTERS) Now it’s getting serious: The US government is tightening the thumbscrews in the dispute over Airbus subsidies. A few hours after the WTO – Washington presents an eight-page list in the ruling, which defines in detail in bureaucratic English which products from Europe are affected. The dispute between the EU and the US over state aid for the aircraft industry has become massive due to the imposition of punitive tariffs by Washington The US government announced on Wednesday evening punitive tariffs of ten percent on aircraft imported from the EU.

At the same time, the duties due for imports into the USA for a whole range of other EU goods are expected to rise dramatically. As can be seen from the US list published late Wednesday evening in Washington, the new punitive tariffs should particularly affect products from Germany, France, Spain and Great Britain. From October 18, import surcharges of 25 percent will apply to goods such as whiskey, cordless screwdrivers, olives, swimsuits, nightgowns, sweaters as well as parmesan, cheddar, Emmentaler and wine. The US authorities want goods with a total value of 7.5 Billions of dollars (around 6.8 billion euros) with punitive tariffs, as Washington said. They would be imposed on Airbus commercial aircraft as well as industrial and agricultural products from all EU countries, but especially from the countries participating in Airbus, Germany, France, Spain and Great Britain, said US trade representative Robert Lightizer. The official list of goods on which a 25 percent punitive tariff is levied, comprises a total of eight pages and is meticulously detailed.

For example, it is precisely defined which type of linen bed linen is covered by the new duty and which exceptions apply to wine imports. Here is an overview of the US list: The US authorities expressly exclude fermented grape juice from the Tokaj grape variety from their threat of punitive tariffs. Tokaj is mainly grown in Hungary. Wine from other growing regions such as Germany, Italy, Spain or France, on the other hand, will be artificially increased in price by 25 percent when imported into the USA – as long as the wine does not contain more than 14 percent alcohol by volume, the US officials list which exceptions apply to which product groups.

Exporters should be able to circumvent some of the regulations relatively easily, for example by adapting the volume of the transport containers to the new regulations, as is the case with wine. At first glance, the list looks like a curious hodgepodge of different goods. Beer from Germany is not mentioned in the list. But Swiss cheese (with holes) appears.

All punitive tariffs due to the Airbus dispute should apply from October 18. The US government hopes to negotiate with the European Union “” to resolve the conflict for the benefit of US workers, “” explained Lightizer. The World Trade Organization (WTO) had previously made a final decision on the US government to impose the punitive tariffs in the dispute over subsidies for the aircraft industry. US President Donald Trump described this as a “” great victory “” for his country. “” All of these countries have ripped off the US for many years, “he said.

Now they knew that he knew how to use it “wisely”. A Lighthizer employee pointed out that the WTO had allowed the United States to impose punitive tariffs of up to 100 percent. However, this will be disregarded, since Washington is still interested in a settlement of the 15-year-old dispute over state aid for the European aircraft manufacturer Airbus and the US manufacturer Boeing. Following the WTO decision, the EU Commission warned the US government against actually imposing the punitive tariffs.

Trade Commissioner Cecilia Malmström said: “If the US chooses to put in place WTO-approved countermeasures, it will put the EU in a situation where we have no choice but to do the same.” “In just a few months it will be further decision by the WTO expected, which will then deal with possible EU punitive tariffs on US products. It is to be expected that these import surcharges will also be approved. They could affect US goods worth up to twelve billion dollars. The WTO has ruled state aid for both Airbus and Boeing inadmissible, and trade relations between the US and the EU are already strained by punitive tariffs on steel and aluminum by Washington.

Trump has also threatened import surcharges on European cars. The dispute over aircraft imports began in 2004 when the US government accused Germany, France, Great Britain and Spain of illegally subsidizing Airbus. Source: ntv.de, mmo / AFP “Wants lower interest rates: Donald Trump. (Photo: AP) Donald Trump is asking the US Federal Reserve to cut interest rates, and it won’t be long before the Fed will grant him his wish.

She can’t help it. Donald Trump has one ardent wish: low interest rates. So far, Federal Reserve Chairman Jerome Powell has steadfastly refused to grant the president’s request. But now it looks like the US Federal Reserve will cut interest rates soon.

You have no other choice. For months, Trump has been waddling off the Fed chief installed by him. With his broad sides in the direction of the central bank, the US president is making it unmistakably clear that he expects obedience from Powell – even though the Fed is nominally independent. But Trump wants lower interest rates at all costs.

He doesn’t care what consequences his attacks have on the reputation of the central bank. Trump is all about being re-elected – no matter what the cost. And that’s exactly why he’s calling for interest rate cuts: because that would fuel the economy and stock markets – and thus increase his chances of winning. But Powell’s central bankers have other goals: stable prices and low unemployment. In the face of the well-performing US economy, they hiked interest rates four times last year – and drew the wrath of the president who cursed them as “” crazy “”, “” clueless “” and “” ridiculous “”. That Powell now holds out the prospect of a rate cut in the coming months, but should not be misunderstood as a collapse.

The Fed is simply submitting to the inevitable – it must contain the damage Trump is causing with his trade wars, as the tariff dispute instigated by the president with most of the largest trading partners is now having an impact on the US economy. Powell wants to respond “appropriately” to this. “My colleagues and I aim to keep the economy going,” he says. Translated, this means: the domestic economy is basically doing well – and if the president causes problems, then the Fed will help sweep up the pieces. So the Fed is doing nothing but its job – and Trump gets his way. Some time ago he had asked the central bank to help him in the trade deal with China.

The Fed refused, but Powell is now forced to. Small consolation: The Fed chief is in good company. In Europe, the ECB under the leadership of Mario Draghi has been ironing out the political mistakes for years. Source: ntv.de “A useless product, but currently more valuable than ever. (Photo: imago / ZUMA Press) The credo of investor legend Warren Buffett has been investing in companies and their value creation for decades instead of speculating on price gains. “” Useless “” Gold had no place in his portfolio. Now the 89-year-old is breaking his own dogma. It’s just a small position in Warren Buffett’s portfolio: In recent months, his holding company Berkshire Hathaway has invested $ 562 million, or just 0.3 percent of its capital, in shares of gold producer Barrick Gold, compared with Apple’s stake in Berkshire being worth almost $ 90 billion.

But the investment in one of the largest gold miners in the world, which was made known through a mandatory announcement at the end of last week, is causing a sensation. Barrick stock now responded by jumping 10 percent at the start of pre-trading, a remarkable change in course for Buffett, the world’s fifth richest person. For decades, his credo has been value investment, investing in value creation by companies as opposed to speculating on price gains.

Gold, on the other hand, has no real value in Buffett’s previous view, but actually generates costs. “” It is being dug out of the ground in Africa or somewhere. Then we melt it down, dig a new hole, bury it again, and pay people to stand around and guard it. It is of no use, “” Buffett reportedly once said.

If Martians were to watch this they would “” scratch their heads in amazement. It is precisely with this “” useless “” business that Barrick earns his money – currently a lot of money thanks to the gold price rally. At the same time, with his switch to gold, which he previously disdained, Buffett significantly reduced his holdings in several major banks in the past quarter. At Goldman Sachs, Buffett even dropped out completely.

Berkshire only bought in at Bank of America. This shift from bank stocks, whose development is traditionally tied to general economic developments, to precious metal, which is considered a currency in crisis, raises the question of whether Buffett’s unwavering belief in the US economy has cracked. Just a few weeks ago, Buffett had advised Birkshire shareholders at the annual general meeting: “” One should never bet against America. “” Economy 08/17/20 Meyer on the discovery of gold “” Warren Buffett did not do everything right “” Although Buffett himself did not bought gold in physical form or as security.

The business and thus also the share price of gold producers like Barrick is closely linked to the development of the price of the precious metal, which had reached a new all-time high earlier this month. “” It’s exciting that Warren Buffett is getting out of American bank stocks, which he had overweighted very strongly and has now discovered gold, “said ntv stock exchange expert Frank Meyer. He emphasizes that not only the gold price has risen sharply in the past few months, but also the Barrick share price. “Gold skeptics have already missed the first 100 percent” price gain. Source: ntv.de, mbo “Turning the sanctions screw further: US Secretary of State Pompeo and Treasury Secretary Mnuchin announce the latest punitive actions. (Photo: AP) After the nightly Iran’s missile attacks on US military bases in Iraq are initially foregoing a vengeance. But the economic sanctions threatened by Trump are now to come. This time it will hit Iran’s steel industry. After the Iranian attacks on US troops in Iraq, the US imposed further economic sanctions on Tehran .

US Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin announced in Washington. The new punitive measures affect, among other things, the steel sector in the country. In addition, high-ranking officials of the Iranian regime are subject to sanctions, which were involved in the recent attacks on US troops, said Pompeo. The punitive measures that have now been imposed are directed against eight Iranian government and military officials. You are involved in Tehran’s efforts to destabilize the Middle East, Mnuchin said.

They are also accused of involvement in or complicity in the rocket attacks from Wednesday night. Possible fortunes of men in the United States are frozen, transactions with them are prohibited, and sanctions have been imposed on 17 Iranian steel, aluminum, copper and iron companies.