Is it to soon to pop the champagne cork?
Yesterday the EU trade commissar Jean Claude Juncker and his flunkies visited Trump hat in hand and begged for a chance to make amends, and to start the process of forging more honest trade relations, starting with a whopper offer to buy the US soybeans China is trying to avoid buying, and agreeing to purchase LNG (gas) from the US instead of just enriching Russia. And this was just the appetizer.
Meanwhile America is not backing off with its tariffs on European steel, and Herr Juncker was virtually on his knees begging Trump to hold off on his threats to hoist a 20% tariff on (primarily Fourth Reich) auto imports.
Of course CNN and the Times et al are doing a Flying Walendas act in their circus-like attempt to spin this story as a Trump capitulation. But if you really want to understand who really has the upper hand, all you have to do is see which way Wall Street is heading (hint: It’s where you can find Santa Claus).
Best of all, this latest development both punches Russia in the face while kicking China in the groin. It could well be that what Trump – in his inimitable, and very inelegant way – accomplished in Europe last week may go down in history as one of the shrewdest economic moves in the history of international trade and geopolitics.
(And let’s not ignore the fact that the Times had to choke on its words as it reported that North Korea is disassembling one of its major nuclear installations.)
But hey, the Democrats now have a Peurto Rican female socialist heading for Congress, so they have plenty to be cheerful about. Especially now that every single Venezuelan is a billionaire, which proves how effective socialism is. Of course it will take more than a billion to buy a jar of pickles in Caracas — assuming you can even find a jar of pickles in Caracas.
Over and out. — jjg