The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.
A tariff of “30%, or anything above 30%… has more or less the same effect. So, practically it prohibits the trade,” Maroš Šefčovič, the EU’s trade commissioner, said as he arrived ahead of an EU ministerial meeting in Brussels on Monday.
Šefčovič said it will “be almost impossible” for the bloc to continue its current level of trade with America if that new tariff rate is implemented on August 1 – the date stipulated by US President Donald Trump in his letter to the EU on Saturday.
Just don’t cave. Once you start down the bitch path, forever will it dominate your destiny.
Always remember: TACO.
When it comes to not being America’ bitch, Europe caved on that a while ago.
That was America BT (before Trump). America TE is like a whole new country. They get a reset.
That was more or less the whole premise of the Bretton Woods agreement which made the US the world hegemon by bringing peace and economic prosperity to the world. But Trump is throwing all that in the trash, so Europe will once again stand on its own two feet. And I predict that the US will lose much of its financial power to Europe who will be seen as the new bastion of stability and stable governance while the US goes full fascist.
Message to Europeans from an American.
It’s time to start looking for other trading partners. Canada and Mexico come to mind. So does South America and Africa as a whole. Be ready for us to shit the bed in epic fashion, and make sure you’re not in the poo position. And don’t be afraid to punish us for our BS. Just be strategic with the payback and don’t copy our fails.
It’s time to start looking for other trading
The EU has been doing that. But it’s difficult to replace a 30T economy, representing 15% of the global aggregate of the world’s GDP.
With Tariffs, the outcome will always be a big loss worldwide. For some more than others.
Add: It’s already been harming USA manufacturers according to this AP article ,
" US manufacturers are stuck in a rut despite subsidies from Biden and protection from Trump. (…).But the factory investment spree has faded as the incoming Trump administration launched trade wars and, working with Congress, ended Biden’s subsidies for green energy. Now, predicts Mark Zandi, chief economist at Moody’s Analytics, “manufacturing production will continue to flatline.”
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Should probably plan for the worst case scenario where that trade is eliminated and mitigate it elsewhere as best as possible. America’s leadership has become cancerous, and figuratively speaking, leaning into their isolationism and letting them starve themselves out as a consequence of not understanding how economic globalization works is probably the best shot at real change.
Unfortunately it’s the only thing that will help fix US policy. Our people are too stupid to believe anything else.
Enough with the empty threats and DO IT
As a european I can only say
They’ll just funelle stuff anyway they can, and profit either way, regardless of whichboeasants have to suffer
Good.
