Remarks by President Donald Tusk at the press conference following the EU-Japan summit in Tokyo

[Audio]

If, under the trade agreements, our corporations can continue to be abused by European regulators as a thinly veiled strategy to protect European industry, then the trade agreement will not happen. The same with TPP if America is not allowed to profit from free trade by exploiting its strengths (e.g. intellectual property).

I am satisfied either way, since the US is strong enough to survive without such agreements, and will continue to grow faster than Europe for the foreseeable future. What the statist mercantilists in Europe and Asia have not considered is that the US cannot permanently sustain a trade regime in which we provide all of the demand, and absorb all of the supply of the world through our excessive current account deficits. If the US walks away, everyone else will suffer far more than we do. We have made our compromises (as you gleefully pointed out with that NYT article). It's time for the rest of the world to recognize that it takes two to tango, and the US is in the stronger negotiating position.

Creator of demand > creator of supply

Stop joking. You do export inflation. So, there's that.

Your current account deficits are courtesy of the shenanigans Wall Street has played on the political elite. And additions of such opaque clauses (terms of these trade deals will be known to public 4 years after signing!!!) is just indicative of the overall weakness.

 

[Steve781]

If, under the trade agreements, our corporations can continue to be abused by European regulators as a thinly veiled strategy to protect European industry, then the trade agreement will not happen. The same with TPP if America is not allowed to profit from free trade by exploiting its strengths (e.g. intellectual property).

I am satisfied either way, since the US is strong enough to survive without such agreements, and will continue to grow faster than Europe for the foreseeable future. What the statist mercantilists in Europe and Asia have not considered is that the US cannot permanently sustain a trade regime in which we provide all of the demand, and absorb all of the supply of the world through our excessive current account deficits. If the US walks away, everyone else will suffer far more than we do. We have made our compromises (as you gleefully pointed out with that NYT article). It's time for the rest of the world to recognize that it takes two to tango, and the US is in the stronger negotiating position.

Creator of demand > creator of supply

So called "free trade agreements" are really nothing of the sort. Many "free trade areas" have huge protective barriers between them. A more apt description would be to call them "investor rights arrangements".

 

[Gabriel92]

I can only express skepticism about a free trade agreement in the medium term, given the EU's and Japan's protectionist tendencies, but I wish them all the best. As far as increased security ties, I'm afraid that's pure fantasy until both parties demonstrate their commitment to defense with cold, hard cash. @Gabriel92 just posted a thread about French unwillingness to discharge their NATO Article V treaty obligations in case of an attack by Russia on eastern European members, and Japan has yet to revise Article 9 (and it appears to be increasingly unlikely that Abe will succeed).

I'll change from skeptical to cautiously optimistic if I see changes in the above. Until then, at least we can say that jaw-jaw is better than war-war.

"Are French soldiers ready to die for Latvia or Estonia against Russia" ? That's the question.
That is hard to answer. (The French public couldn't see our soldiers being killed for a country that has no ties with us,that probably some French don't even know.)

 

[Steve781]

"Are French soldiers ready to die for Latvia or Estonia against Russia" ? That's the question.
That is hard to answer.

I didn't even know there was a country called Latvia until I was 17.
I think NATO should remain in the Baltics but extending it into Moldova, Georgia or Ukraine would be suicidal.

 

[LeveragedBuyout]

Stop joking.

When the WTO failed (thanks, India), the US turned to mega-regional agreements like TTIP and TPP. When parochial statists in Europe and Asia blow up those talks, the US will return to bilateral trade agreements, and continue to push forward with countries that will play ball. The UK realizes that it is being excluded from the game by the EU's intransigence, but it appears most of the other members are slow on the uptake. Fortress Europe can go stand in its corner while the rest of us get on with business. Unfortunately, it's Europe that will become the joke.

 

[SvenSvensonov]

@Nihonjin1051 I have no side in the trade debate, but I do have an interest in seeing this increased:

EU Naval Force and Japanese Navy Strengthen Counter-Piracy Cooperation During Visit to Djibouti | Eunavfor

A Swedish marine aboard HMS Malmo aims his machine gun at suspected pirates in the Gulf of Aden.

EU Naval Force warship, ESPS Rayo, welcomed on board the commander of the Japanese Escort Division 2, Captain Masatoshi Kashihara

EU Naval Force warship, ESPS Rayo, welcomed on board the commander of the Japanese Escort Division 2, Captain Masatoshi Kashihara. Representatives of ESPS Rayo were welcomed on board JS Harusame and were given a guided tour of the Japanese destroyer.

Commander of CTF 151 RDML Chung meets Captain Akira Shikishima Commander of Japanese P3 Deployment Air Force for Counter-Piracy Enforcement.

Secure the seas so trade can continue, that is where Japan and the EU should cooperate, it's an area we can find common-ground with the US and China in too.

I don't foresee increase high-value (joint arms programs, military actions, or sales) cooperation between Japan and the EU though, unless the EU shifts its focus way from Russia. With an interest in balancing its relationship between an economically important China, and an equally necessary Japan, the EU will take the middle-ground and stay away from too much cooperation with either on the military front. To be frank, Europe needs the money and taking sides would jeopardize its relationship with two very important partners.

Joint piracy operation are likely the peak of military cooperation.

 

[Audio]

When the WTO failed (thanks, India), the US turned to mega-regional agreements like TTIP and TPP. When parochial statists in Europe and Asia blow up those talks, the US will return to bilateral trade agreements, and continue to push forward with countries that will play ball. The UK realizes that it is being excluded from the game by the EU's intransigence, but it appears most of the other members are slow on the uptake. Fortress Europe can go stand in its corner while the rest of us get on with business. Unfortunately, it's Europe that will become the joke.

Is it recession time yet in the US? Or we wait another quarter? Will be hard to blame it on winter weather in middle of summer.

You obviously haven't read what i've provided. Noone is for the agreements such as they are. In the end, you just might be left alone, when the inflation returns home.

 

[LeveragedBuyout]

"Are French soldiers ready to die for Latvia or Estonia against Russia" ? That's the question.
That is hard to answer. (The French public couldn't see our soldiers being killed for a country that has no ties with us,that probably some French don't even know.)

On a personal level, I perfectly understand. On a political level, that's what a multi-national alliance entails. If the French are not willing to protect Latvia or Estonia, how long before Americans ask if they must protect our European allies? It's becoming painfully hard to be pro-NATO when most of the other NATO members are deadbeats with no prospect of reciprocating with the defense responsibilities.

Is it recession time yet in the US? Or we wait another quarter? Will be hard to blame it on winter weather in middle of summer.

You obviously haven't read what i've provided. Noone is for the agreements such as they are. In the end, you just might be left alone, when the inflation returns home.

Inflation?

Recession time in the US? Left behind?

 

[Audio]

Inflation?

Yes, inflation, when dollar looses it's status, which it's on it's good way to do, courtesy of Wall Street infested White House.

Recession time in the US? Left behind?

Another first-quarter shocker: U.S. GDP falls 0.7% - MarketWatch

Enjoy. One quarter away. And jobless claims rising. Housing falling.

 

[Steve781]

On a personal level, I perfectly understand. On a political level, that's what a multi-national alliance entails. If the French are not willing to protect Latvia or Estonia, how long before American ask if they must protect our European allies? It's becoming painfully hard to be pro-NATO when most of the other NATO members are deadbeats with no prospect of reciprocating with the defense responsibilities.



Inflation?

Recession time in the US? Left behind?

Any country which spends less than 2 percent should be expelled.

 

[Audio]

Always wait for the revisions, the first estimations are never accurate:

It Looks Like the U.S. Economy May Not Have Shrunk This Year After All - Bloomberg Business

The US economy is mired in a cyclical trend that sees poor first quarter performance followed by three quarters of strong growth. Bad weather is a common culprit, but this year a strong dollar, trade dispute on the West Coast and weak overseas demand in Europe and China has been a problem too.

Because of this persistent problem, and its residual effects on the next quarter, the US is revising how it calculates its first quarter data, to provide a more complete and accurate assessment of the economy's strength

We will see about that bad weather quite soon. As for now, everywhere it's registered at -0.7%.

 

[Gabriel92]

Any country which spends less than 2 percent should be expelled.

Out of 28 members,only 3 countries spend 2%. (UK,USA,and Greece.)
Some of the rest have decided to increase their budget,but still far from 2%. (Germany,France,Netherlands for exemple.)
Too many countries rely on USA,that's why they don't increase their budget.

 

[Steve781]

Out of 28 members,only 3 countries spend 2%. (UK,USA,and Greece.)
Some of the rest have decided to increase their budget,but still far from 2%. (Germany,France,Netherlands for exemple.)
Too many countries rely on USA,that's why they don't increase their budget.

We cheated though by including war pensions!

 

[LeveragedBuyout]

Yes, inflation, when dollar looses it's status, which it's on it's good way to do.

I keep hearing this. Wake me up when it's about to happen.

I was trying to be polite before, but now it's time for you to put up, or shut up.

Another first-quarter shocker: U.S. GDP falls 0.7% - MarketWatch

Enjoy. One quarter away. And jobless claims rising.

One quarter does not a trend make. Four quarters from now, do you doubt the US will have grown faster than Europe?

 

[Gabriel92]

We cheated though by including war pensions!

So,only 2 countries spend 2% ? That is depressing. (Even the Bankrupt Greece still spends above 2%..)
What does Cameron plan on defense ?

Any country which spends less than 2 percent should be expelled.

If we apply that,NATO will disband.