Germany’s Largest Auto Makers Support Abolishing EU-U.S. Car Import Tariffs Trump's tariffs were a Trojan Horse for free trade, and German auto manufacturers want zero tariffs on EU-US autos. That's win number one! More below. "The U.S. ambassador to Germany, Richard Grenell, brought the proposal for a broader industry trade pact to the Trump administration on Wednesday, according to people familiar with the situation.
That would mean scrapping the EU’s 10% tax on auto imports from the U.S. and other countries and the 2.5% duty on auto imports in the U.S. As a prerequisite, the Europeans want President Donald Trump’s threat of imposing a 25% border tax on European auto imports off the table. Over the past few weeks, Mr. Grenell has held closed-door meetings with the chiefs of all major German automotive companies, including bilateral meetings with the CEOs of Daimler AG , BMW AG and Volkswagen AG , which operate plants in the U.S. Overall, Germany’s auto makers and suppliers provide 116,500 jobs in the U.S., according to the Association of German Automotive Manufacturers." American oil producers are producing at a dizzying pace. "We will reach capacity in the next 3 to 4 months,” Pioneer’s chairman Scott Sheffield told Bloomberg in an interview on the sidelines of an OPEC conference in Vienna, which is attended by representatives of some U.S. oil companies. “Some companies will have to shut in production, some companies will move rigs away, and some companies will be able to continue growing because they have firm transportation,” Sheffield told Bloomberg, commenting on the Permian constraints that threaten to slow down the relentless pace of production growth." And at Trump's request, the Saudis are increasing oil production. Trump Quietly Asks Saudis to Increase Oil Production Saudis, Saying They Heard Price Complaints, Are Raising Oil Production That's win number two! Millennials are moving out of mom and dad's house!!! "The number of 18- to 34-year-olds living with parents last year edged down from 2016, according to new data from CoStar Group, a commercial real estate information company in New York. Last year, 31.5 percent of that age cohort were living with Mom and Dad, down slightly from more than 32 percent in 2016. While still higher than the long-term average of under 28 percent, it’s a downward trend the firm expects to continue due to the strength of the job market and overall economy. “There are more individuals in that age cohort who are employed,” said Michael Cohen, director of advisory services at CoStar. “We also should see some wage gains in that age range. … Both of those things help.'" That's win number three!!! I'll let you know when I am tired of all the winning!
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