Quote of the day
Germany’s government was not amused when European Commission President Jean-Claude Juncker said the EU could be “stupid” like President Donald Trump and slap tariffs on US products. Export-dependent Germany fears the harsh tone could escalate the trade conflict with the US. Trade groups said Europe should not provoke its ally, and instead react with pointed countermeasures and lobbying of influential US politicians. Let's call it a guerilla trade war.
Graphic of the day
Not Made in the USA
It's official: US consumers and companies simply L-O-V-E products from Europe. From BMWs and Ferraris to Chanel perfume, L’Oreal cosmetics, Armani suits and Prada dresses, a huge volume of goods still crosses the Atlantic. For Mr. Trump, this is “bad, very bad” as it hits his country's trade deficit. But perhaps we should check his garage and Ivanka Trump’s wardrobe to see how a trade war might affect their lifestyles...
Person of the day
Jumping on the Bannon wagon
It would be interesting to know what Steve Bannon, Mr. Trump’s former chief strategist, thinks of all the trade war threats. He’s currently on a European tour and visited Rome over the weekend to support a far-right party following its election success on Sunday. He also met Alice Weidel, a leader of the far-right Alternative for Germany, while in Zurich. Who knows, perhaps he’ll stick around now he's persona non grata in Washington. Source:
Picture of the day
Fasten your seatbelts
Elsewhere in Switzerland, the Geneva Motor Show is in full swing. Audi and Airbus presented a new version of their flying vehicle, the Pop.up Next. Designed by Italdesign, the drone-like car would enable drivers to avoid gridlock on city roads. If Mr. Trump allows it, the vehicle will one day also be available to US customers.