My question would be, why not eliminate tariffs on BOTH sides?
Say 0% for American goods going to Europe, and 0% for European goods coming to the USA?
Is that too simple a solution?
For quite a while now, I’ve wondered what would happen if ALL countries had 0% tariffs on ALL others countries.
I think the Euro-dollar exchange rate worries Europeans a good bit. One Euro buys $1.18 presently.
That would be free trade. Tariffs are “needed” because apparently America can’t compete with cheap Chinese/Indian labor OR 1st world Japanese/European/S Korean labor either.
Two words: non tariff barriers. The Europeans love to put US companies at a disadvantage with that sort of thing.
Tariffs are not the only trade barriers. They can still put nontariff barriers such as certain requirements, standards, and so on.