A Quote by Michael Froman
Of course, the UK is a significant economy that makes up a quarter of American exports to the EU, more than 50 percent of our exports in certain sectors and over 25 percent of the government procurement opportunities we have in Europe. Brexit reduces the size of the TTIP deal for the United States, and there will need to be an adjustment of expectations accordingly, but Brexit underscores the value of reaching an agreement at this critical moment in the evolution of Europe.
Quote Topics
Quote Author
Related Quotes
Europe is very critical to the United States in the sense not only do we have a fourth of our exports there, but more importantly, a significant proportion of the foreign affiliate profits in fact, half of U.S. corporations, are in Europe.
80 percent of the export of armament in the world comes from the G8 countries. [The] United States alone exports about 50 percent of the world's armament, [for] which, of course, there has to be buyers, and the buyers are very terribly keen, very often military dictator[s] or sometimes not military dictator[s] but for military purposes. But the sellers are also promoting this trade. And two thirds of the arm exports go to developing countries. I'm in favor of putting a control on it, a ban on it.
At the moment we are hard-wired into the European markets - 50% of our exports go to Europe - and that has not been good for the UK. So I'm not saying "make Britain entirely dependent on China". I'm saying "let's diversify a bit". When I became chancellor, China was our ninth largest trading partner. This is the world's second biggest economy. China was doing more business with Belgium than it was with Britain.
The United States really only accounts for about 3 percent of the economic engagement with Russia. Europe is 40 percent, and so Europe's contribution to this pressure is far more than symbolic. It's very practical. And that's one of the many reasons why we have worked hard to remain in close coordination with our European partners.
70 percent of Turkey?s citizens favored the EU; today it is only 50 percent. If you ask if they want Turkey to become an EU member, 60 to 65 percent still say yes. But if you ask: Do you believe Europe will accept Turkey, 60 percent say no.
We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy.
We believe you will not have to pay more than the current rate structure proposes - which is, for 50 percent of the public, nothing; for another 25 percent, only a 10 percent increase; and for the remaining 25 percent, a 34 percent increase.
When I was secretary of state, we actually increased American exports globally 30 percent. We increased them to China 50 percent.
Venezuela is independent. It's diversifying its exports to a limited extent, instead of just being dependent on exports to the United States. And it's initiating moves toward Latin American integration and independence. It's what they call a Bolivarian alternative and the United States doesn't like any of that.
I think the first what would happen in the immediate wake of a hard Brexit is a lack of confidence in UK economy. Business is already telling me that they need a year or so to adjust to what is going to change in March 2019. Without a deal, tariffs would immediately kick in and we would need all the physical attributes of a customs border. And that is just the trade aspect. Imagine what would happen if, from one day to the next, we had no aviation agreement or no agreements for dealing with security across Europe.
Over the last several quarters we have been growing faster in Asia and Europe than any other place on the planet. We have 18 percent of the global PC share, about 12 percent in Europe, and 8 percent in Asia.
After almost 50 years in which federal spending averaged about 20 percent of GDP, Joe Sestak and Nancy Pelosi took federal spending to 25 percent. You know, that's a 25 percent increase in the size of the government overnight. That's what we - that's what we've got to rein in.
Why is Caterpillar bad if we create a new job in India or China to receive U.S. exports? It makes no sense to me. We want to drive all the exports we can from the United States. We want to concentrate on all those consumers, outside contractors, customers outside the United States that we possibly can.
From 1947 to 2001, the American economy grew annually at a rate of 3.5 percent. After China got into the World Trade Organization, got access to our markets and flooded our markets with its illegally subsidized exports, we grew at a rate of 1.8 percent from 2002 to 2015. That's almost cut in half.
I supported the Korean Trade Agreement in 2011. They promised - when it was signed, President [Barak] Obama said it would increase our exports to Korea by $10 billion a year.That creates jobs in America.Since - last year, 2015, there was no increase, like instead of billions of dollars there was like a $100 million increase in our exports to Korea, whereas as their imports to us went up $12 billion, and our trade deficit increased 240 percent.
Italy is the fourth-largest economy in Europe and the eighth-largest economy in the world, and its banking system is collapsing. And Germany is desperate. It must maintain its standard of living. It can only do that with exports and Deutsche Bank is very exposed to Italian debt. But so is the rest of Europe.
Related Authors
Barack Obama Quotes
American
President
Benjamin Franklin Quotes
American
Politician
Cassandra Clare Quotes
American
Author
Deepak Chopra Quotes
American
Speaker
Donald Trump Quotes
American
President
Frederick Lenz Quotes
American
Author
George W. Bush Quotes
American
President
Henry David Thoreau Quotes
American
Author
Hillary Clinton Quotes
American
Politician
Mark Twain Quotes
American
Writer
Noam Chomsky Quotes
American
Activist
Ralph Waldo Emerson Quotes
American
Philosopher
Rick Riordan Quotes
American
Author
Rush Limbaugh Quotes
American
Entertainer
Sherrilyn Kenyon Quotes
American
Writer
Thomas Jefferson Quotes
American
President