Summary
Donald Trump has announced plans to impose 25% tariffs on the European Union, claiming the bloc was “formed to screw the United States.”
While details are pending, he suggested the levies would target cars and other imports. The EU, a major U.S. trading partner, has vowed immediate retaliation, with potential tariffs impacting $29.3 billion in exports.
French President Emmanuel Macron had attempted to dissuade Trump, urging focus on China instead.
Critics, including economists and conservative media, warn the tariffs could harm the U.S. economy.
The piece of shit saying that was formed to screw the US
Ofc the EU was created to screw the USA. Good for them. Nobody wants to be subservient to the paper petrol-dollars of a genocidal empire that’s literally destroying the planet for a few ultra privileged man babies.
Yes, because the initial tarriff talks went over so well…
It did for Mexico and Canada.
They agreed to nothing new, and the terrifs vanished.
It must be like trying to negotiate with a toddler.
I remember John Kerry’s election in 2004 was thwarted due in part to the perception that he was flip-flopping around a lot of issues. Trump is constantly making an absolute fool of himself by constantly backing away from shit he said he was going to do.
“This again? See you next month, Don.”
He’s like clockwork, but he’s more of a fake Rolex.
Based on an overwhelming amount of economic studies of tariffs in the last 100 years, the EU should ignore it. Why enact tariffs on American goods and make life more expensive for Europeans? Studies show EU businesses will raise prices accordingly. The citizens will be worse off.
However, based on our knowledge of how politicians act, they’ll take the bait and retaliate, thus making things more expensive for EU citizens.
This is what I’ve been thinking about for Canada’s reaction - do nothing! I can’t say how it will affect us now and in the immediate future but it seems the damage is already done anyway. BTW. this is my 1st post on Lemmy - thank you!
Maybe not “do nothing” but I like the remove certain products from shelves. Like stop the sale of American alcohol from shelves.
I don’t get it. If we do retaliate, the US will have something to gain (back) by removing the tariffs.
I don’t know what studies you are referring to (please leave a link) but it seems counterintuitive to not have that bargaining chip to force a quick end to the tarriffs (See US vs Canada 2025, US vs Mexico 2025).
I don’t see how one could reasonably measure policies like these through time; of course it’s worse in the short term for all involved parties but should resolve the situation faster. If they only measure the time during active tarriffs of course it’s better through survivorship bias.
Pathological liar.
Slap 100% tariffs on the bloc of united states, as a courtesy.
Capitalism-lover hates competition. Interesting.
Capitalism strives to make money. Competition means profit margins shrink. So yes capitalists are against competition.
That is one of the many reasons listening to companies is not good economic planning for countries.
yeah american tourists are going to have a hard time in the next 50 years.
Studies show the majority of Americans don’t have a passport let alone have left their own state. 3rd world country.
That’s unfortunately what happens when people get gaslit into thinking being a debt slave is morally righteous.
Classic aim high and make the second offer seem like a win tactic?
Putin’s puppet
Wtf kinda drug are the elite in the US on?
Special K if Elon is any indication
Money and power the name of that drog
Money. https://www.youtube.com/watch?v=IP2EKTCngiM Being rich is a mental disease. You don’t think straight when you are rich. The best solution is to not let people bi rich, ever.
Cocaine, I remember hearing about Elon Musk’s supplier a while back. Most of the Republican Party is cranked, too, according to a historically young GOP congressman Madison Cawthorn.
Capitalism.
Side effects include electing a complete moron and his piss baby groupies to the presidency
We need a dictator then?
Ketamine, or so I heard.
Russian psy-ops boosted by algos from coked up tech bros.
Fucking do it then, cunt!
Can someone explain to me why this is worse than Europes VAT tax?
According to an International Monetary Fund (IMF) study, any nation that switches to VAT initially feels the negative impact of reduced tax revenues. In the long run, however, the study concluded that VAT adoption has in the majority of cases increased government revenue and proved effective.
It seems to be proven quite effective, and Europe still has them, so why is Trumps worse/better than a VAT?
VAT is a universal tax on goods. A tariff is basically a tax that applies only to imported goods. So a tariff distorts the market, making imports from a region more expensive relative to other regions, or domestic goods.
Note that basically any tax is bad from an economic perspective. However for the government to function revenues must be raised. It is considered better for market efficiency to raise revenues in such a way as to least distort the market. Tariffs are a very distorting instrument, VAT is generally considered less distorting because it affects all parts of the market equally.
To add another example to your great post.
And when there are exceptions, they are based on the type of good. Eg in Australia GST isn’t charged on fresh fruit and vegetables in a grocery store. It doesn’t matter whether an orange was grown in Australia or internationally it will be tax free.
Whereas with a tariff, a orange grown locally will be tax exempt whereas the imported one (from a tariff applied country) will.
We pay tax. For imported goods. That isn’t tariffs
