Soyprise Soyprise

Just when you thought they soyrendered… The trade relationship between the United States and Europe is improving, German Agriculture Minister Julia Kloeckner said on Saturday, but there is no guarantee the bloc will buy the quantity of soybeans that Washington expects.

Soy

U.S. President Donald Trump and Jean-Claude Juncker, president of the European Commission, the EU’s executive body, struck a surprise deal on Wednesday that ended the risk of an immediate trade war between the two powers.

After the talks, Trump highlighted benefits for U.S. farmers. “The European Union is going to start, almost immediately, to buy a lot of soybeans,” he told reporters.

Kloeckner, speaking to Reuters on the sidelines of a G20 meeting in Buenos Aires, said the amount of soy Europe will import is yet to be determined.

“Will we be able to do whatever President Trump wishes for? I don’t know. Let’s see whether this will be the case or not,” she said.

Soy its back to the drawing board, folks. We’ve got another European insoyrection on our hands. Yup, another resoygence of European protectionism. But if they want a trade war then their destruction is assoyed. We’ll see who has the better chance of soyvival.

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German Of The Day: Stiff Upper Lippe

That means stiff upper lip.

Trump

And that’s what meany Berlin politician types are struggling with to keep up after Donald Trump’s latest bizarre attacks against Germany, the EU and NATO.

In trying to console themselves, however, many German stiff-upper-lippers remind the rest of us that Donald Trump is also against the UN, the CIA, the FBI, AC/DC, TCP/IP and even LSD itself, to name just a few. Although the LSD…

With a stiff upper lip, Steffen Seibert instead pledged that Berlin would “co-operate closely” with the Trump administration.

When a country turns bad

Or makes a bad turn, I should say.

“The ink had barely dried after GM signed Opel over to Canadian car parts maker Magna and Russia’s Sberbank when they announced they would fire one-fifth of the group’s 50,000 European employees within a year – 4,000 in Germany.”

Opel (in Germany) first!

“Even a strong recovery would leave automakers with huge overcapacity. Against this background – which the sale of Opel does nothing to change – not admitting the necessity of job cuts is either delusional or dishonest to voters.”

“So when Germany’s government put up €4.5bn in loans and guarantees to ensure that Magna prevailed in GM’s garage sale, it presumably expected to get something in return.”

And that was…

“Magna co-chief executive Siegfried Wolf’s assurance that restructuring will be guided purely by commercial considerations is laughable when the group is accepting financing that depends on political decisions. The German money is a move in a negative-sum game of trying to push job cuts across the border.”

“We are naturally determined to resolve the remaining problems in a spirit of European equality.”