There's a piece from ARD (public German TV, Channel One) which discusses the next step in the tariff 'war'.
The EU now says it'll raise a higher tariff on steel in response to the US tariff. But hidden in the summary, you kinda notice that they are talking about a "steel glut" that has been noticed in Europe (especially in the first half of 2018) and they kinda mention China in the text.
I sat and looked up the import rate of US steel and aluminum into the EU. For the 2016 period....it barely got to one percent of what the EU countries produce. In some ways, if they are hyping the steel glut....it's not pointed much at the US.
But then you get to the tailend of the article, and here....the EU Economic Commissioner Pierre Moscovici, kinda mentions the solution in mind. He carefully says the magic phrase....a free trade agreement.
Yes, you might remember that crazy TTIP agreement that went on for three years in discussions, and then toward the end of 2016....it fell apart. Chief reason? Various pieces of the confidential talks were being released and various groups were talking over this as being negative.
When all this tariff talk by both parties started up....I kinda spoke of the TTIP deal and it basically needs to be brought back onto the table. It's the only way to solve this whole situation.
My humble belief is that BREXIT will occur in March 2019, and the UK will sign some type of massive trade agreement within three months of that day, and it'll be some warning message to the EU. By summer of 2019....I think the EU will be upset over trade numbers with the US and finally admit that a TTIP situation is the only way forward.
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