EU-US full blown trade war

Since Trump got in office more than two months ago, he has been talking about restoring U.S.' manufacturing sector by rising tariffs on foreign goods. According to Trump's plan, tariffs can help boost production at home by making foreign goods more expensive. 

Obviously, if businesses were to make goods in the U.S., they wouldn't pay tariff for them. But if companies do as Trump asks, then the U.S.' government can't raise tariff revenue from them. Consequently America's public debt could rise, and American people could pay a high price for Trump's reciprocal tariffs. Not to mention of a country's ability to produce a particular good, such as wine, spirits, and food, at a lower cost compared to other nations. 

On the China front, while these measures may trigger concern over their economic impact, they are unlikey to undermine Beijing's long-term manufacturing dominance.

     Have a nice weekend!

Transatlantic partership or strategic autonomy

 

This morning the European Commission is launching a series of countermeasures to protect EU consumers from the impact of US tariffs of up to 25%. On March 12, the US imposed those tariffs on imports of steel and aluminium from European Union and other trading partners. 

That news reminds me a famous Heinz Alfred Kissinger's quote. As it is known, he was an American diplomat and political scientist, who also served as secretary of state. In 1968 he said: "It may be dangerous to be an America's enemy, but to be America's friend is fatal". 

Have nice Wednesday :-)

An empty suit and a Napoleon syndrome

On this sunny Sunday Italian newspapers show that we, Europeans, are at a crossroads in Europe history because of the insanity of two leaders: Macron and Starmer. Europe should not drag themself in Ukraine war, rather they should focus on diplomatic solution at any cost. The Italian prime minister, Giorgia Meloni, isn't snubbing anybody. She and other EU leaders are looking after their own people and their own coutries. They are not interested in helping weapons-makers to become richer by creating a never ending war in East Ukraine. 

I think some people pretend to forget that in 2021, before Russia's invasion, US & UK military drills took place three times on the Ukrainian ground, close to the Russian border. And now two European leaders want to do the same mistake. NATO troops in Ukraine for peace is an insane reasoning, as this was the reason the whole thing started. 

And last but not least, since yesterday Russians have been advancing sharply in the Russian region of Kursk. Consequently, I am sorry to see that Ukraine's sole territorial bargaining counter will disappaer soon, unfortunately. That's why Zelensky made a great mistake last week when he didn't agree on Washington ceasefire proposal. Last week at Washington' oval office he, the comedian, still had bargaing power. At present I am afraid Ukrainians have no choice but to lose Russian occupied territories. He will be judged by his own people. 

Brain drain

   

Since 2014 to 2024 more than one million Italians aged between 23 and 34 years have left their country.  It seems that  young  Italians think there is a lack of job recognition in their country, as they feel their skills are undervalued at home.      In this context, Italian government is trying to reverse the trend by incentivising the youth, as the brain drain is exacerbating Italy's demographic crisis. 

According to Eurostat, nine member states reported salaries above the EU average standing at € 37,863. And in six EU countries (Luxembourg, Denmark, Ireland, Belgium, Austria and Germany) average salary was above € 50,000. Finland, France and Sweden are also ranked above the EU average of € 37,863.

         

Many young Italians also look for better wages in Switzerland, which is not an EU member state. Furthermore, some Switzerland's cities, such as Zurich, Basel and Geneva, allow for a confortable lifestyle.

Have a nice 1st weekend of March! ⛅ 

Nightlife in historic neighborhoods

Since the beginning of this winter many young people have been gathering in the historic centre of the town, every Friday and Saturday, on the night. As usual people meet to wind down, socialise, and sip away on cheap drinks. Consequently, historic centre's citizens call to protest against unchecked wild movida and the opening of new fast food shops in the old medieval squares and alleys. 

In the historic centre of many Italian towns, such as Turin, Rome, and Milan, the coexistence between nightlife and the rest's expectations of residents represents a very big issue to deal with.

The goods new is that on Sunday, in the early morning, the same square shown in the above photo was not polluted with rubbish, bottles and other waste. It was probably cleaned by the people who run fast food shops, coffees, and wine shops. 

Some people who love hanging out their underwear clothes live in the historic part of the town :-) LOL

Have a nice month of March!  

Stability into China-US relations

Since the US government took office, more than a month ago, International public opinion has been believing that Washington-Beijing communication has lost momentum. At the moment many signals show the ambivalence in Washington about China-US relation. On the one hand, the US continue to spread the “China threat” rhetoric. On the other hand, the relevant information just proves the importance of stable Washington-Beijing economic and trade relations to the United States.

The US administration knows that the tariff war would not bring tangible benefit to American consumers. Not to mention of the effect  related to the stock market, as it is no coincidence that since late January S&P 500 index has decreased by 3%. According to data, during the previous trade war launched by the US in 2018, most of Washington’s costs from tariffs on China hit American businesses and concumers.

The importance of maintaining stability between Washington and Beijing is related to the fact that trade war and tariff war have no winners. That’s an undeniable fact, as injecting new vitality into China-US relations would contribute to global stability. 

Out of season

This  morning I went shopping at the supermarket, athough I often choose to buy fruit and vegetables from smaller retail shops or local farmers. On the 22nd of February there were red and yellow peppers on the shelves. They seemed made of plastic.

I'm afraid that in the near future consumers in the EU can't indentify which fruits and vegetables are in season when. 

Not to mention of grapes, which I used to eat from late August to early October. It's better to eat such fruit in Summer, as high water content of grapes can aid hydration and contribute to skin health.

Season-specific foods are not only fresher but also denser in terms of nutrition.

Unfortunately, I have just seen green and purple grapes at the supermarket today 🤨 ... as mentioned in my previous post, published on the 1st of February, I had already seen grapes at the supermarket in Winter when I went to Dublin,  Edinburgh and London in the previous years.  

In addition to this, fruit and vegetables' prices are still rising, as inflaction has surged ahead in the first month of the new year. Actually, inflaction in euro area in January 2025 increased by 2.5% compared with the same month in 2024. 

While this month of February is still rainy, mimosa trees are already blooming here on the 42nd parallel.

    

Have a nice weekend ⛅