Carney did exactly what he needed to do, let Trump run his mouth off. He is digging himself a hole with every word that comes out of that vacuous space.
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As to the big news with a big country, Xi wonât pick up the phone to talk to Trump. Just about every other country or regional grouping has the door ajar.
However, Bessent somehow found himself in Switzerland around the same time that China and Switzerland were going to have high level trade talks.
If there are any relevant WTO meetings scheduled, the US could claim that it held trade talks with China under cover of multilateral meetings.
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Eh theyâll fix it in Pro Tools
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Witkoff was making an appearance at the UNSC yesterday, a closed session.
Reportedly he was going to solve the problem of humanitarian aid to Gaza. Previously US contractors had been mentioned as an alternative to locals employed by UNRWA and by international NGOs such as the Red Crescent. They donât have any supplies left because of the Israel blockade on supplies from UN truckloads at the border.
Are the kids still using Pro Tools?
HUGE. Youâve never seen anything like it.
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The deal is $5b in exports, and $6b in tariffs because the 10% stays the same.
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Well⌠at least it wasnât Pope Don.
And nothing will changeâŚ.
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Lutnick said that Rolls Royce engines and âthose sort of partsâ would be tariff free. In return the UK would buy $10 billion worth of Boeing planes.
Is that all?
So is this deal number 201?
(Somewhere was an earlier clearly false quotation from the admin about â200â deals having been done).
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That âhuge dealâ is rather narrow in practice, and currently lacking in any actual detail.
The US will reduce tariff rates on UK cars back to ten percent ( Rolls Royce gets a complete exemption for some bizarre reason ) for the first 100,000 cars. So US buyers will still pay a 10 percent premium for a Landrover etc. Theyâve also removed the tariffs on UK steel and AL , but currently the UK exports very little of either to the US as a raw product.
In return, the UK will reduce ânon tariffâ impediments (whatever that means. Thereâs a mention of fast tracking customs clearances ) on US agriculture equipment and supposedly thereâs some sort of agreement on beef imports in both directions. No details as yet. And the details will be important because the UK currently protects itâs farming industry from most of the â â â â â that the US livestock industry does not.
I imagine Brexit has caused ongoing Agri industry problems for the UK and maybe US supplies will help that. But overall this is a very small deal and the most important parts are still undocumented. Itâs currently more important politically than economically, arguably for both ends.
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100,000 cars? Laughable - RR doesnât produce 10,000 cars a year total.
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Agree itâs not a big deal. This administration is addicted to making BIG ANNOUNCEMENTS and making a whole lot of noise
They (UK) sent about 7 billion pounds worth of âcarsâ to the US in 2023, but this category includes cars, tractors, trucks and parts. The actual numbers of vehicles, Iâm not sure. I donât imagine the UK tractor industry is a big exporterâŚ
As to beef, reportedly hormone treated US product would remain banned.
The UK would probably be maintaining EU standards on agriculture products under trade arrangements with the EU. UK beef would probably have US quarantine restrictions related to foot and mouth disease etc,
As to non tariff impediments, they would be technical barriers to trade, involving standards such as emissions, drafted in a way that only US manufacturers could meet. They could also involve Buy America elements, government purchasing type measures in agricultural machinery etc.
Itâs all a smokescreen. RR are one of the worlds great engine manufacturers for aircraft and a large backlog of Boeing aircraft on order all use RR engines. With the contracts already in place with major clients the US had to have a workaround to stop things coming to a screeching halt
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As above, not a HUGE deal. I suspect that this is all going to end pretty close to what everyone had last year.
Trump, however, will claim that HE has made all these wonderful deals that will protect the American worker. Very few people know the fine details of such deals, but the announcements will be enough to convince his base that it is all his work.
Not bizarre at all. Boeing need the RR engines
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Ahh yes, perfect point.