Inb4 Trump announces 1,000% tariffs on the E.U. because of these “unjustified” counter-tariffs.
!Ping EUROPE
moldyman_99 on
I can understand why somebody like Trump wouldn’t be too stoked about the fact that the EU and Canada are basically the backbone of American industry, but the solution isn’t to try and break that backbone lol.
justbuildmorehousing on
Where are we at in the Trump tariff cycle?
1. Declare tariffs
2. Markets sink
3. Counter tariffs
4. Markets sink more (<— you are here?)
5. Trump caves after a few days to continue ‘negotiations’ or whatever. Return to #1
SunflowerMoonwalk on
The steel and aluminium that the US imports from Europe is mostly expensive, highly-specialized, precision-engineered products. Cheap raw materials and mass-produced products come from elsewhere. The US is not going to be able to suddenly replace European steel and aluminium-based products with American alternatives anytime soon. So, these tariffs are just going to make products more expensive for Americans and have little impact on deterring imports.
4 Comments
Inb4 Trump announces 1,000% tariffs on the E.U. because of these “unjustified” counter-tariffs.
!Ping EUROPE
I can understand why somebody like Trump wouldn’t be too stoked about the fact that the EU and Canada are basically the backbone of American industry, but the solution isn’t to try and break that backbone lol.
Where are we at in the Trump tariff cycle?
1. Declare tariffs
2. Markets sink
3. Counter tariffs
4. Markets sink more (<— you are here?)
5. Trump caves after a few days to continue ‘negotiations’ or whatever. Return to #1
The steel and aluminium that the US imports from Europe is mostly expensive, highly-specialized, precision-engineered products. Cheap raw materials and mass-produced products come from elsewhere. The US is not going to be able to suddenly replace European steel and aluminium-based products with American alternatives anytime soon. So, these tariffs are just going to make products more expensive for Americans and have little impact on deterring imports.