What we have is a failure to communicate …

Heisenberg Report posted a fabulous post on current trade issues – leveraging source material from Goldman. https://heisenbergreport.com/2019/06/06/just-call-it-a-coin-flip-40-chance-trump-slaps-europe-with-auto-tariffs-goldman-warns/

This quote is priceless – a combo of Heisenberg and Goldman: quote –

“The bank does an admirable job of dancing around the punchline in the interest of not coming across as overtly snarky, but the bottom line is that there isn’t even an agreement on what’s being negotiated. In fact, it doesn’t appear that the two sides agree on what Trump and Jean-Claude Juncker actually said at the famous Rose Garden press conference last July. Here’s Goldman:

A divergence of opinion on what should be included in the trade deal appears to be the main stumbling block for negotiations. When the European Council passed its two negotiating mandates in May, it limited the scope of the negotiations to ‘non-auto industrial goods’ and ‘non-tariff barriers’. Agriculture is unambiguously excluded from the mandates. Conversely, the Office of the US Trade Representative (USTR) published negotiating objectives that specifically include the reduction or elimination of EU agricultural tariffs and the establishment of “specific commitments for trade in products developed through agricultural biotechnologies”.

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