Reply to More stock market carnage coming?! S&P futures down another 4.5%!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]As per the cnn headline looks like its working "Europe says it is ‘ready to negotiate’ with US as stock markets tumble"[/quote]

Europe is repeating the same free trade offer it's been making for years. [/quote]

Europe already has low tariff rates.  In some cases, Europe actually has lower tariff rates than the U.S.  Accordingly, I do not think that this is accomplishing anything.  It's all a performance and little more.

I do think there are reasonable arguments for selectively applying tariffs to certain countries (e.g., China, Vietnam, etc.) and to certain industries (e.g., high-tech manufacturing), but none of that applies to Europe.  I do not understand why the U.S. is taking this go-at-it-alone approach and pissing off both allies and foes alike.  Why not work with your allies to create a larger free-trade zone and collectively lock out your foes?

Separately, in case folks are not aware, the U.S. does engage in trade protectionism outside of these tariffs.  For example, the U.S. subsidizes the farming industry and the U.S. then exports farm outputs (e.g., soybeans).  The U.S. does this at a smaller scale than most other countries (e.g., China), but they are not completely innocent.[/quote]

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