Posted on 05/21/2018 7:35:54 AM PDT by GonzoII
SOFIA (Reuters) — French President Emmanuel Macron ruled out on Thursday any trade war with the United States over its withdrawal from the Iranian nuclear deal as a wave of European companies quit business with Tehran, fearing the global reach of U.S. sanctions.European Union leaders united behind the 2015 accord, and Brussels announced it would launch a legal process banning EU-based firms from complying with the sanctions that U.S. President Donald Trump has reimposed on Iran.
However, corporations face the choice of trading with the biggest economy in the world, the United States, or with Iran, risking sanctions and massive fines as well as losing access to the dominant U.S. financial system.
Even the European Commission’s financial services chief said that using EU powers to ban banks from following the sanctions that Trump announced on May 8 would be of limited use, given the global reach of finance.
(Excerpt) Read more at the-japan-news.com ...
Winning!
As he said from his sinking rowboat.
The Trump Effect continues. Perhaps EU leaders (and businesses) remember that Americans have FAR MORE disposable income than do Iranians?
Ping.
SO.
MUCH.
WINNING!!!!!!!!!!!!!!!!!!!!!!!!!!!
This is what a true America First leader does and affects. I knew most of the Euroweenies would fall in line. Let’s see, trade with America or trade with Iran? Politicians may have their influence/kickbacks, but companies that want profits know where the butter is. That is the greatest of Capitalism.
Ping.
Everyone knows that Trump means business and that includes Kim of North Korea.
France, and the rest of the EU, will just engage in sanctions busting.
They’ve done it before.
Trump farts in their general direction.
The minute Trump says they are going to get hammered by the US for working with Iran, most will shut down Iranian operations right away.
On the other hand, the Ayatollah Obama actually pressured big multi national corporations to do business with Iran
This is why the Iranians were so hopping angry. They knew no matter what the European governments said or did, the European companies would be fleeing Iran because choosing between American markets and Iranian markets is no contest. Now Mullahs, lets get a real deal done....
“France, and the rest of the EU, will just engage in sanctions busting.
They’ve done it before.”
Sure, they can do that, but in so doing, their companies will loose the ability to do business here. Can you imagine how the German Automakers would fare if we suddenly cut off their ability to sell their Nazi Thunderbirds, and Krautmobiles here? And yeah, I know they “manufacture” some cars here, but the high dollar value parts are still “imported” from the Fatherland. They are not building engines and drive train parts here. These businesses have a model that fails if they are not able to sell cars here, and by extension to Canada because the Kanakas get their German cars from us.
“Big corporations are the most risk averse entities imaginable which totally offsets their greed.”
Absolutely! That’s why they always preemptively fold at the slightest threat from SJWs. Witness Starbucks, Dick’s, Target, and so many more.
However, corporations face the choice of trading with the biggest economy in the world, the United States, or with Iran, risking sanctions and massive fines as well as losing access to the dominant U.S. financial system.
Even the European Commission’s financial services chief said that using EU powers to ban banks from following the sanctions that Trump announced on May 8 would be of limited use, given the global reach of finance.
************************************************************
IOW, “It’s good to be the King”
tee hee
“France, and the rest of the EU, will just engage in sanctions busting.“
Until they get caught anyway. Previous administrations turned a blind eye to it. Somehow I doubt President Trump will.
Best,
L
France doesn’t have any weapons with which to wage a trade war anyway. What would they do? Stop selling us runny cheese and crappy tin can cars?
I think it’s hilarious that these countries put so much stock in a piece of paper that was dreamed up in the Oval office and not even run by our legislative branch. They ought to feel like fools. We could have 1st graders send pieces of paper to those countries that would prove just as meaningful.
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