Sunday, March 18, 2018

Prof. Sinn Agrees With President Trump!

In an interview on German TV, Prof. Hans-Werner Sinn made the following comments:

* the EU blames Trump for starting a trade war. The truth is the opposite.
* import tariffs on American cars in the EU are 10%; in the US cars from the EU carry import tariffs of 2,5%.
* the EU applies protective tariffs to favor certain EU lobbies. The price for that is paid by EU consumers, by American consumers and by the Third World.
* the prices of EU agricultural products are roughly 20% over world market and over prices in the US.
* the cost of food stuffs is dramatically lower in the US than in the EU.
* in a normal duty-free exchange, EU consumers would benefit dramatically, particularly low-income groups.
* this is the responsibility of the EU which pursues protective trade policies. The Americans have now had enough of that. That is why Trump is saying: "If you don't stop doing that, we will put a tariff on your cars."

Well, well, well. I look forward to seeing the political backlash which Prof. Sinn will get from politicians after this interview.


  1. I don't have a clear view of what Trump wants to do. Up to this point it's all talk. Let see a concrete position of his first and then bring Sinn's position into context for discussion and/or criticism if merited.

  2. Have any of you eaten American mass grown food stuff? They should pay x5 x10.


  3. I don't like Markus Lanz much, but curious how he/his team managed to set up the basic foundation for Sinn. Watch him observe Lindner's standard political language. I wish I could read his mind there.

    Anway: Sinn starts at about 30:55. Question: "economical question, social systems". Perfect jump-start into redistribution demand on a larger scale. Greece is tiny. What about adding Spain and Italy? France leading there. That surely will sink in.

    My brother is a Markus Lanz fan ...

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  5. Kleingut: Nitwit question, I am not sure, but I am struggling with this question for longer now. No doubt from a purely lingustic perspective. Germany, maybe Austria and Switzerland and others too, may have still two different fields in the study of economics, no doubt a result of the 19th century. One is Volkswirtschaft, the economy of the nation, the other Betriebswirtschaft, the economy of the specific business in its respective field.

    If I look up Volkswirtschaft/national economy, the economy of a nation, having to deal with matters like social security too, versus the economy dealing with whatever business therein has roots in the British and from there in the American system too. But how exactly is the difference dealt with there?

    What would be the Greek perspective on matters? In the field of education?