Will the EU socialists lower their tariff barriers? Surely they don’t think Donald is bluffing.
Good its time for the world to stop using us as their patsy.
“...drastically increase the cost of smartphones”
I suspect that the process of making smartphones is highly automated.
Everything with Europe “goes nowhere”. All they do is talk.
The EU is our enemy.
Nothing but a nest of snide snooty snobs.
The Euro Weenies are making a mess in their pants.
When Alexander Hamilton became the nation’s first Secretary of the Treasury, he immediately began to prepare a schedule of tariffs, along with excise taxes on such commodities as alcohol and tobacco. The Constitution forbids taxing the exports of any state, and so American tariffs have always been laid only on imports.
Collectors were named for each port, and these were considered plum jobs because the collector got to keep the money, earning interest on it, until it was forwarded to the federal government a few times a year.
Hamilton’s tariffs, along with the refunding of the national debt and the establishment of a central bank, transformed the American financial situation. By the end of the 1790s, the U.S. had the best credit rating in Europe, its bonds selling over par. By 1800, federal revenues, a mere $3.7 million in 1792, had nearly tripled to $10.8 million. About 90 percent of that revenue came from tariffs—a ratio that wouldn’t change much, except during the Civil War, for more than a century.
The problem is Trump is showing the world that he can’t be trusted. He promised a 90 day pause on EU tariffs on April 10th, now he says 50% tariffs on June 1st. Last I checked 90 days would be mid-July.
Good. Its long past time we had equality in our trade relations with Europe. The days of us needed to subsidize them to help rebuild in the wake of WWII should have ended around 1970 or so. Its ridiculous that we’ve let them get away with grossly unequal tariffs and non tariff barriers for this long.
They run a large trade surplus with us. They’re not going to win any trade war with us and they know it.