However, these new US rules are likely to hit a number of European companies including several German engineering firms.
So now the EU is faced with having to ask President Trump to make exceptions for EU businesses – something that would have been considerably easier had they taken the diplomatic decision to acknowledge that Trump was democratically selected by his Party to be their presidential candidate and, more importantly, democratically elected by the people of the United States of America to be their president. But then democracy has never been the EUs strong point.
Following on from my previous article about oil prices, it’s interesting to hear what Donald Trump has to say on the prospects for the US oil industry.
Republican presidential nominee Donald Trump says that if elected he would immediately freeze new federal regulations – long the bane of the oil and gas industry.
His Aug. 8 speech in Detroit went further:
I will ask each and every federal agency to prepare a list of all of the regulations they impose on Americans which are not necessary, do not improve public safety and which needlessly kill jobs. Those regulations will be eliminated.
At face value this has to be good news for an industry blighted by regulations created by people who fail to understand the impact those regulations have on business and jobs.
Of course this is dependent on (a) Mr Trump getting elected and (b) Mr Trump keeping his promises – something politicians aren’t always the best at.