>The reason: the Trump administration’s decision to expand its 50% metals tariffs to cover hundreds of additional products that contain steel and aluminum, slapping a large number of European manufacturers with tariffs higher than the 15% Trump and the EU agreed on for most products.
The rest of the story is something like: Vance visited a factory in the US and concluded that “virtually none” of the machinery is US made. So they decided to slap tariffs on factory machines this way, i.e. based on their metal content. The European machine manufacturers are crying foul, of course.
>“About 30% of U.S. machinery imports from the EU are now subject to 50% tariffs on the metal content of the product,” Bertram Kawlath, president of the German Mechanical Engineering Industry Association, or VDMA, wrote in a letter to European Commission President Ursula von der Leyen at the end of August. The sector, he added, is facing an “existential crisis.”
erasmus_phillo on
Good, let it unravel. The entire world needs to unite to teach the median US voter the consequences of touching the stove
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>The reason: the Trump administration’s decision to expand its 50% metals tariffs to cover hundreds of additional products that contain steel and aluminum, slapping a large number of European manufacturers with tariffs higher than the 15% Trump and the EU agreed on for most products.
The rest of the story is something like: Vance visited a factory in the US and concluded that “virtually none” of the machinery is US made. So they decided to slap tariffs on factory machines this way, i.e. based on their metal content. The European machine manufacturers are crying foul, of course.
>“About 30% of U.S. machinery imports from the EU are now subject to 50% tariffs on the metal content of the product,” Bertram Kawlath, president of the German Mechanical Engineering Industry Association, or VDMA, wrote in a letter to European Commission President Ursula von der Leyen at the end of August. The sector, he added, is facing an “existential crisis.”
Good, let it unravel. The entire world needs to unite to teach the median US voter the consequences of touching the stove