This has to be one of the single funniest French retorts in the history of commerce.  If President Trump follows through on auto tariffs, France will strike back.  Let that sink in.
Oh noes,… your next Peugeot, Citroen or Renault purchase might cost more.  D’oh.

PARIS (Reuters) – Europe will hit back if U.S. President Donald Trump follows through with a threat to slap import tariffs on European-made cars, France’s finance minister said on Monday. Trump escalated already burning trade tensions on Friday by threatening to hit all imports of cars assembled in the European Union (EU) with a 20 percent tariff.   (more)

The EU is the most protectionist trade bloc in the world.  The German auto-sector is the most protected trade sector inside the EU.  The hypocrisy is silly.
The EU, Germany specifically, needs access to the U.S. market to survive.  Angela Merkel has already conceded this point in the EU concessionary position to abandon all auto tariffs; in exchange for removal of Steel and Aluminum tariffs.
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Earlier today President Trump and First Lady Melania welcomed King Abdullah II bin Al-Hussein and Queen Rania Al Abdullah of Jordan back to the White House.  This is the second official visit of King Abdullah and Queen Raina.
In the background it is likely much of the executive conversation surrounds the current issues with Iran, the state of Syria, Israel and the Palestinian Authority as it pertains to regional stability overall and Jordan specifically.   In the quiet distance, and entirely overlooked by Western -mostly U.S. media, President Trump has been positioning the EU via economic leverage against Iranian influence.

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[Transcript] PRESIDENT TRUMP: Thank you very much. It’s a great honor to have the King and Queen of Jordan with us. They’re friends. We’ve known each other now for quite a while. Long before this.
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Earlier today President Trump and members of the administration delivered remarks following the G7 Summit in Charlevoix, Canada.  President Trump is heading to Singapore for a historic meeting with North Korean Chairman Kim Jong-un.

Prior to departing Canada, President Trump took questions from the media on a wide variety of issues including trade:  “Economic Security is National Security” !

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The best laid plans of mice-like men simply collapsed when the shadow of President Trump entered the G7 in Charlevoix, Canada.

It’s one thing to talk about the boss when he’s out of town; it’s another thing entirely when he’s sitting next to you. POTUS Trump sets the standard for the scale of influence. Really, it’s such a basic truth – it becomes self-evident. Watch, it is remarkable:

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President Trump has taken the Godzilla Trump meme to levels beyond ordinary imaginings.  In advance of the G7 summit in Charlevoix, Canada Prime Minister Trudeau sounded the alarm and called in all like-minded allies to help fend off horrible Trump and his arsenal of tariffs.

L-R: European Council President Donald Tusk, British Prime Minister Theresa May, German Chancellor Angela Merkel, U.S. President Donald Trump, Canada’s Prime Minister Justin Trudeau, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Italian Prime Minister Giuseppe Conte and European Commission President Jean-Claude Juncker

French President Emmanuel Macron responded to Trudeau’s plea and arrived two-days early to coordinate the strategic message.  Together they were looking for leverage in advance of Godzilla Trump’s arrival.  Germany’s Angela Merkel, and U.K. Prime Minister Theresa May even brought non-G7 members European Council President Donald Tusk, and European Commission President Jean-Claude Juncker as back-up.

Apparently the six-against-one plan was considered unfair to the six, so they added two more.  Unfortunately for Canada, France, Germany and the U.K., Japanese PM Shinzo Abe and Italian Prime Minister Giuseppe Conte are not foolish enough to take on Godzilla.

As an entirely predictable outcome, President Trump won again.  It’s just so darned funny to watch this play out.  The era of the titan is back, and deliciously the titan is an American President, Donald J Trump.  He’s one guy, and he has them all surrounded; and he’s laughing the entire time.  He’s impenetrable, sharp, funny as heck and monolithic in stature making all of his opposition look decidedly less-than.

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Generally speaking the corporate media have yet to have an honest outline about the fatal flaw within NAFTA that allows China, ASEAN nations and the EU to exploit previous investments in Canada and Mexico as a back-door to the U.S. market.

In a generalized aspect, the recent visit of top U.S. trade and economic policymakers to China was part of Trump’s exploration into the larger dynamic of bi-lateral trade between the U.S. and China knowing full well the NAFTA flaw remains unaddressed.  Without addressing the loop-hole (aka ‘fatal flaw’) any modernized NAFTA deal is moot; and by extension the foundation for any future trade deal between the U.S. and China is too byzantine to manage.

It is in China and the EU’s interests to continue exploiting the NAFTA access.  It is in Canada and Mexico’s interests to retain the subsequent investment influx.

It is in multinational corporate and Wall Street interests to continue the scheme. However, it is also entirely against U.S. Main Street interests.  Hence, NAFTA loggerheads reigns supreme; and in my opinion, we are soon to see President Trump cut the Gordian knot.

WASHINGTON (Reuters) – Senior Canadian, U.S. and Mexican officials trying to rescue slow-moving talks to update the NAFTA trade pact met on Monday in a new bid to resolve key issues before regional elections complicate the process.

With time fast running out to strike some kind of deal on the North American Free Trade Agreement, the three member nations are still far apart on major points.

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President Trump’s MAGAnomic team have announced a 30-day extension for the Steel (25%) and Aluminum (10%) tariffs for the European Union, Canada and Mexico.

Also, after a prior agreement with South-Korea, the “KORUS” deal, team U.S.A. has also reached an agreement in principle with Australia, Argentina and Brazil which will be finalized in next 30 days.

Via Wall Street Journal – President Donald Trump has decided to postpone decisions about imposing steel and aluminum tariffs on the European Union and other U.S. allies until June 1, a senior administration official said.

In addition to announcing the delay, the White House is expected to say Monday evening that it has finalized a deal to exempt South Korea from the tariffs, mirroring details that have been previously released by the U.S. Trade Representative’s office.

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Earlier today French President Emmanuel Macron addresses a joint session of congress.

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President Trump and First Lady Melania Trump host French President Macron and Mrs. Macron for an official state dinner at the White House.   The arrival will be livestreamed.

UPDATE: Video Added

Pictures below

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First Lady Melania Trump and Lady Brigitte Macron visit the National Gallery of Art in Washington DC.  Part of the tour included the Cezanne exhibit.

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