Alternative Visions - US Trade War...Not Yet! + Italian Debt Crisis - 06.01.18
Dr. Rasmus on Trump’s lifting exemptions on US tariffs on NAFTA-Europe steel & aluminum. The oft-ignored role of US domestic politics in Trump trade actions. Trump negotiating strategy and tactics. Why there’ll be no trade war with Mexico-Canada or Europe, but may yet be with China. NAFTA and Europe partners’ tepid responses to Trump announcement (Mexico $4b, Canada $16b, Europe $7.5b counter-tariffs compared to US $2.4 trillion total annual exports). Three-way splits in US-China trade negotiating team. The US ‘dual track’ trade negotiations strategy. In the second half hour, Rasmus addresses the emerging Italian Debt crisis and its similarities to the 2012-15 Greek debt crisis. Italy’s insolvent private banking system, $500b in nonperforming bank loans, and government debt of 130% of GDP. Contagion potential to French banks. 5-Star populist party-Greek Syriza party compared. Italy as Greek debt crisis writ large. How financial imperialism works in the Eurozone.
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