Posted on 03/17/2025 9:45:48 AM PDT by SeekAndFind
The European Union has reacted swiftly to U.S. President Donald Trump’s 25% tariffs on steel and aluminum imports that came into effect Wednesday, retaliating with its own punitive countermeasures that it said were needed to protect consumers and businesses.
The White House confirmed the duties — which will affect Canada, Australia, the EU and others — late Tuesday, but said that Trump no longer planned to raise tariffs on metals from Canada to 50%.
The EU responded swiftly, saying it would impose counter-tariffs on 26 billion euros ($28.33 billion) worth of U.S. goods starting in April.
European Commission President Ursula von der Leyen on Wednesday told reporters that the EU “must act to protect businesses and consumers.”
“We deeply regret this measure [by the U.S.]. Tariffs are taxes, they are bad for business and worse for consumers, they are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices are up and nobody needs that, neither side needs that,” she said during a news conference.
Trade ties between the U.S. and EU “are the biggest in the world,” von der Leyen said, and the relationship had brought “prosperity and security to millions of people” as well as job creation on both sides of the Atlantic, she noted.
The EU’s two-pronged approach will see previously suspended tariffs reimposed on 8 billion euros of U.S. exports, and a slew of new countermeasures on 18 billion euros of goods in a move von der Leyen had earlier described as “strong but proportionate.”
“We will always remain open to negotiation,” she added in a statement.
The EU said the tariffs will affect up to 26 billion euros worth of the bloc’s exports to the U.S. They apply to industrial-grade steel and aluminum, other steel and aluminum semifinished and finished products,
(Excerpt) Read more at cnbc.com ...
Good, whatever they are selling we can do without.
Dear Canada....keep you damn cars...
We stop paying for NATO.
About time Europe paid for its own defense.
And suddenly, Ursula Von DerCrazy was a tax hawk, worried about the affects of taxes.
They can drop their restrictive anti-competitive protective rules and tariffs and get the same from us.
Tariffs are taxes, they are bad for business and worse for consumers, they are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices are up and nobody needs that, neither side needs that,” she said during a news conference.
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However, the EU will punish their businesses and consumers anyway, which is not surprising when you look at their behavior during Covid and the Russia Ukraine War.
“ Tariffs are taxes, they are bad for business and worse for consumers, they are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices are up and nobody needs that, neither side needs that,”
Then the EU should drop all tariffs since they cause all this badness. Trump is only setting tariffs equal to what are placed on US goods.
EC
I'm not sure Trump's strategy is the right one. But doing nothing isn't an option.
run to mother Russia and chinas arms, your half way there anyway
Tariffs are rarely taxes on the consumer. When calculating a price for something like an Iphone or a Nike Shirt, the price to make is not even an input when calculating the price to charge. An Iphone costs less than $100 to make. The charge is $1000. The formula for the price has value and market place inputs. If the phone cost $50 or $60 the price would stay at $1000. Same with the Nike shirt. It costs less than $5 to make. The price is calculated by the market. It likely costs around $59 retail. If a tariff adds $1, the retail price does not change. America should always charge tariffs when tariffs are charged on our products.
This entire enterprise is based on math showing Europe can’t last long in a trade war. Companies will move here to manufacture if Europe keeps fighting. Adding new tariffs on top of their existing tariffs isn’t going to work for them.
President Trump’s reciprocal tariff policy began a game of chicken.
A game of chicken always begins with neither side flinching - which tells us nothing about how it will end.
“Tariffs are taxes, they are bad for business and worse for consumers...”
OK.
Why do the countries of the EU impose tariffs on US goods?
First talk. If unsuccessful, then swing club.
Good. Drop your tariffs and trade restrictions against the US, and the tariffs against the EU will be dropped.
It's that simple.
Yes it was probably made in China any way.
100 Tarrif on America’s 2nd greatest foriegn enemy.
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