1 00:00:00,080 --> 00:00:02,480 Speaker 1: It's got to Europe and it's good morning to Vincent Megavinny. 2 00:00:03,400 --> 00:00:03,920 Speaker 2: Good morning. 3 00:00:04,840 --> 00:00:07,840 Speaker 1: So Donald Trump puts a twenty five percent tariff on 4 00:00:07,840 --> 00:00:10,319 Speaker 1: all important cars and car pats. The European cars are 5 00:00:10,400 --> 00:00:13,160 Speaker 1: very popular in America. So how have they reacted? 6 00:00:14,200 --> 00:00:15,280 Speaker 2: Yeah, hugely popular. 7 00:00:15,320 --> 00:00:15,440 Speaker 1: You know. 8 00:00:15,520 --> 00:00:17,640 Speaker 2: You see a lot of BMW's, a lot of Audi's, 9 00:00:17,640 --> 00:00:21,200 Speaker 2: a lot of Mercedes Benz in America when you are there. 10 00:00:21,640 --> 00:00:24,279 Speaker 2: And it's been a pretty big blow, particularly for Germany, 11 00:00:24,280 --> 00:00:26,440 Speaker 2: which has had a struggle over the last few years 12 00:00:26,480 --> 00:00:28,840 Speaker 2: with its economy because of being cut off from cheap 13 00:00:28,920 --> 00:00:32,480 Speaker 2: Russian gas. And they have said decisively that they will 14 00:00:32,520 --> 00:00:35,159 Speaker 2: not give in and that Europe must respond firmly to 15 00:00:35,400 --> 00:00:37,920 Speaker 2: this at tax not just on imported cars but also 16 00:00:38,040 --> 00:00:41,319 Speaker 2: car parts, you know, and some of those manufacturers do 17 00:00:41,400 --> 00:00:43,239 Speaker 2: have plants in the US, but of course some of 18 00:00:43,280 --> 00:00:45,879 Speaker 2: those parts are just manufactured in one site here in 19 00:00:45,880 --> 00:00:47,760 Speaker 2: Europe and then sent all the way around the world. 20 00:00:47,840 --> 00:00:51,400 Speaker 2: So they're trying to build consensus across Europe, but also 21 00:00:51,560 --> 00:00:55,200 Speaker 2: with Canada and Japan as well. All of the car 22 00:00:55,240 --> 00:00:59,520 Speaker 2: companies from those nations have seen their stock fall General 23 00:00:59,600 --> 00:01:03,360 Speaker 2: Motors much as seven percent today because they have sort 24 00:01:03,400 --> 00:01:05,520 Speaker 2: of a lot of production here in Europe as well, 25 00:01:05,560 --> 00:01:08,440 Speaker 2: and it's all tied in this global chain. So there 26 00:01:08,480 --> 00:01:12,319 Speaker 2: are perhaps attempts for Canada, Europe and Japan to sort 27 00:01:12,360 --> 00:01:15,640 Speaker 2: of act together in sort of retaliatory tariffs, but Donald 28 00:01:15,640 --> 00:01:19,280 Speaker 2: Trump has worn it, particularly Canada, of doing anything like that. 29 00:01:19,400 --> 00:01:20,360 Speaker 2: So we'll see how this. 30 00:01:20,319 --> 00:01:22,959 Speaker 1: Goes, absolutely, and we'll see how the American public react, 31 00:01:22,959 --> 00:01:25,880 Speaker 1: because they do like the European cars on the Japanese cars, 32 00:01:25,920 --> 00:01:28,800 Speaker 1: and their freedom of choice has kind of been taken 33 00:01:28,800 --> 00:01:30,640 Speaker 1: away from them exactly. 34 00:01:30,640 --> 00:01:32,759 Speaker 2: And Donald Trump doesn't seem together as well. He's sort 35 00:01:32,760 --> 00:01:35,839 Speaker 2: of his defenses. You know, Europeans don't buy our cars. Well, 36 00:01:36,200 --> 00:01:39,440 Speaker 2: most American cars aren't fit for European roads because they're 37 00:01:39,480 --> 00:01:41,920 Speaker 2: so much smaller, and also we don't have the sort 38 00:01:41,959 --> 00:01:44,959 Speaker 2: of subsidized gas prices that they do. Their fuel is 39 00:01:45,040 --> 00:01:47,560 Speaker 2: much more. You have to have better fuel efficiency here 40 00:01:47,560 --> 00:01:49,040 Speaker 2: in Europe to make it cost effective. 41 00:01:49,480 --> 00:01:52,080 Speaker 1: Okay, So European leaders have been meeting in Paris, and 42 00:01:52,320 --> 00:01:54,240 Speaker 1: Zelenski is here as well. What can you tell me? 43 00:01:55,200 --> 00:01:57,960 Speaker 2: Yeah, that's right. This is another meeting of European leaders 44 00:01:58,000 --> 00:02:03,040 Speaker 2: hosted by Emmanuel Macromar. Defense heads as well attending this meeting. 45 00:02:03,640 --> 00:02:06,600 Speaker 2: They're saying that Putin is simply trying to play for time, 46 00:02:06,640 --> 00:02:09,400 Speaker 2: that he's not engaging properly with the talks. But they 47 00:02:09,440 --> 00:02:11,639 Speaker 2: are starting to sort of draw up plans for a 48 00:02:11,720 --> 00:02:16,480 Speaker 2: mobilization of European forces not seen in a scale for decades, 49 00:02:16,560 --> 00:02:19,680 Speaker 2: to be ready to go in as peacekeeping troops. Now, 50 00:02:19,919 --> 00:02:22,960 Speaker 2: Vladimir Putin has previously said that he wouldn't want any 51 00:02:23,080 --> 00:02:27,160 Speaker 2: NATO soldiers to be put into Ukraine. Now, of course, 52 00:02:27,320 --> 00:02:30,600 Speaker 2: that doesn't leave really any European soldiers these days, because 53 00:02:30,639 --> 00:02:33,560 Speaker 2: his illegal war in Ukraine meant that even Finland and 54 00:02:33,600 --> 00:02:37,320 Speaker 2: Sweden long holdouts had joined NATO in recent years. So 55 00:02:37,960 --> 00:02:40,639 Speaker 2: it is sort of more planning for the possibility of 56 00:02:40,639 --> 00:02:43,560 Speaker 2: a ceasefire, but that ceasefire still seems a little bit 57 00:02:43,560 --> 00:02:44,520 Speaker 2: out of reach at the moment. 58 00:02:44,760 --> 00:02:46,679 Speaker 1: Vinca Meccavini, you have yourself a great weekend, and I 59 00:02:46,680 --> 00:02:48,679 Speaker 1: thank you for joining me for more. 60 00:02:48,720 --> 00:02:51,800 Speaker 2: From early edition with Ryan Bridge. Listen live to news 61 00:02:51,840 --> 00:02:54,760 Speaker 2: Talks it had been from five am weekdays, or follow 62 00:02:54,800 --> 00:02:56,359 Speaker 2: the podcast on iHeartRadio.