For the first time in 67 years, the United States will not lead the United Nations migration agency. Isaacs is considered to hold opinions which run counter to the purpose of the agency, including his perspectives on Islam and climate change, which both happen to be major factors impacting the migration of peoples around the globe.
Following US President Donald Trump’s metals tariffs, Canada, together with a host of other American trading partners, vowed responsive tariffs aimed at goods imported from the US. Those threats are now becoming a reality as Canada’s response is becoming a reality on July 1st, when Canadian tariffs will go into effect.
CNBC reports:
The Nord Stream 2 pipeline project is clearly showing itself to be one of the most polarizing issues in European political circles, and demonstrates in a very clear manner how foreign policy is perceived by European states. Some are able to forego certain aspects of their political hostility towards Russia in areas where insisting upon it would result in considerable damage to their own economic outlook, where others persist in their political russophobia regardless of the consequences.
The President of the European Council, Donald Tusk, is urging members of the European Union to prepare themselves for ‘worst-case scenarios’ as tensions between Europe and the United States continue to rise. This isn’t the first time Tusk has come out with negative talk about his Trans-Atlantic ally, as he has previously stated that with friends like Trump ‘who needs enemies?’.
Associated Press reports:
As a trade war between America and the European Union, and America and China, Europe is looking to deepen its economic ties to China. Preparations are under way to provide a multilateral investment agreement between the EU and China which would help offset the economic losses incurred by Trump’s trade war as well as help to preserve the multilateral economic order.
A few days ago I read something about Wisconsin cranberry farmers facing a very bad year because of Trump's trade war. Retaliation is a bitch. Maine is the top cranberry producer in the U.S.There are 20 counties across the state that grow cranberries. Wood, Jackson, Monroe and Juneau are the top producers. All of them are losing jobs now. They all voted for Señor Job Producer in 2016:
Friday, the world witnessed US President Donald Trump threaten Europe with a 20% tariff on auto imported to the US from the European Union.
The European Union is threatening to counteract any new tariffs coming out of Washington against autos produced in the EU. Meanwhile, the very automakers to incur these tariffs are often ones with considerable investments within the United States, employing thousands of American labourers.
In a further sign the US is losing the dominance of the world’s economic system which it has enjoyed since the end of World War 2, Russia is massively divesting from US securities.
In April, Russia dumped $47 billion in US bonds – roughly half of the US debt it holds.
US President Trump’s escalating tariff war, plus ever-expanding US sanctions on Russia, could also be contributing factors to Moscow’s decision to increasingly ditch dollars.
In exchange, Russia is turning to an ancient and time-tested store of value: gold.
Volvo Cars has just opened a brand new plant in Berkeley, South Carolina, that was expected to employ up to about 4,000 people. But with Trump’s tariffs war with China and the EU, those plans could be nipped in the bud. Volvo Cars is a Chinese owned auto company and views Europe as a major component of its operations and market.
Economists and investors alike are really hoping that Trump’s threats to hike the tariffs even further turn out to be a bunch of hot air, aimed at scoring a few policy points, as their manifestation as a reality would spell some bad news not just for the American economy, but for that the whole world. It’s for this reason that they’re describing Trump’s trade war as a ‘tipping point for the global economy’. That has a lot of implications.
