Episode Transcript
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Speaker 1 (00:00):
It's got to Europe and it's good morning to Vincent Megavinny.
Speaker 2 (00:03):
Good morning.
Speaker 1 (00:04):
So Donald Trump puts a twenty five percent tariff on
all important cars and car pats. The European cars are
very popular in America. So how have they reacted?
Speaker 2 (00:14):
Yeah, hugely popular.
Speaker 1 (00:15):
You know.
Speaker 2 (00:15):
You see a lot of BMW's, a lot of Audi's,
a lot of Mercedes Benz in America when you are there.
And it's been a pretty big blow, particularly for Germany,
which has had a struggle over the last few years
with its economy because of being cut off from cheap
Russian gas. And they have said decisively that they will
not give in and that Europe must respond firmly to
this at tax not just on imported cars but also
(00:38):
car parts, you know, and some of those manufacturers do
have plants in the US, but of course some of
those parts are just manufactured in one site here in
Europe and then sent all the way around the world.
So they're trying to build consensus across Europe, but also
with Canada and Japan as well. All of the car
companies from those nations have seen their stock fall General
(00:59):
Motors much as seven percent today because they have sort
of a lot of production here in Europe as well,
and it's all tied in this global chain. So there
are perhaps attempts for Canada, Europe and Japan to sort
of act together in sort of retaliatory tariffs, but Donald
Trump has worn it, particularly Canada, of doing anything like that.
So we'll see how this.
Speaker 1 (01:20):
Goes, absolutely, and we'll see how the American public react,
because they do like the European cars on the Japanese cars,
and their freedom of choice has kind of been taken
away from them exactly.
Speaker 2 (01:30):
And Donald Trump doesn't seem together as well. He's sort
of his defenses. You know, Europeans don't buy our cars. Well,
most American cars aren't fit for European roads because they're
so much smaller, and also we don't have the sort
of subsidized gas prices that they do. Their fuel is
much more. You have to have better fuel efficiency here
in Europe to make it cost effective.
Speaker 1 (01:49):
Okay, So European leaders have been meeting in Paris, and
Zelenski is here as well. What can you tell me?
Speaker 2 (01:55):
Yeah, that's right. This is another meeting of European leaders
hosted by Emmanuel Macromar. Defense heads as well attending this meeting.
They're saying that Putin is simply trying to play for time,
that he's not engaging properly with the talks. But they
are starting to sort of draw up plans for a
mobilization of European forces not seen in a scale for decades,
(02:16):
to be ready to go in as peacekeeping troops. Now,
Vladimir Putin has previously said that he wouldn't want any
NATO soldiers to be put into Ukraine. Now, of course,
that doesn't leave really any European soldiers these days, because
his illegal war in Ukraine meant that even Finland and
Sweden long holdouts had joined NATO in recent years. So
(02:37):
it is sort of more planning for the possibility of
a ceasefire, but that ceasefire still seems a little bit
out of reach at the moment.
Speaker 1 (02:44):
Vinca Meccavini, you have yourself a great weekend, and I
thank you for joining me for more.
Speaker 2 (02:48):
From early edition with Ryan Bridge. Listen live to news
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