Posted on 07/02/2018 9:28:02 AM PDT by SeekAndFind
The European Union threatened retaliatory tariffs on $294 billion of U.S. exports if the U.S. imposes tariffs on cars and car parts from the EU, Reuters reported.
The EU sent a submission to the U.S. Commerce Department on Friday claiming tariffs on EU automobiles could increase costs for manufacturers in the U.S.
The submission comes as the Commerce Department investigates automobile imports to the U.S.
The EU submission also reports a 25 percent tariff could have a $13–14 billion negative impact on U.S. gross domestic product, Reuters reported.
According to the report, the EU exported $43.6 billion worth of cars to the U.S. last year, while approximately $7.2 billion worth of cars went from the U.S. to the European bloc.
Trump has slapped billions of dollars’ worth of tariffs on a number of countries in recent weeks, including tariffs on steel and aluminum from the EU.
He said in an interview on Sunday that the European Union “is possibly as bad as China, just smaller” when it comes to trade practices.
“It’s terrible what they do to us,” Trump said in an interview with Fox News. “Take a look at the car situation. They send their Mercedes in, we can’t send our cars in.”
Trump last month tweeted the U.S. will place a 20 percent tariff on EU cars coming to the U.S. “if [EU] Tariffs and Barriers are not soon broken down and removed.”
(Excerpt) Read more at thehill.com ...
Same cost and same gas mileage as a Honda Civic.
Seats 2 - 3 people less. What a value!
Now if you live in a small Italian town where the parking space may not be too big, might make sense. If you only haul one other person at most.
That is outrageous! Don’t the EU deserve a perpetual Marshall Plan?
How else can they afford their long vacations and leisured lifestyle?
the eu doesn't seem to understand the business model of a lemonade stand
If you can afford a Mercedes, you can afford whatever tariffs raised its price. Me, I’ll buy American.
And if you want a Mercedes you can buy one made in the US of A without a tariff on it.
Seems simple enough when they enjoy a 6 to 1 advantage in sales in our market. You’ve got to wonder what they are thinking, don’t you?
F*** ‘em.
They need us, we don’t need them.
EU , good luck in the next war ,
Make ours at least 30% then issue a standing order to match whatever change they make.
Tell then they control U.S. tarrifs.
So they know there is no backing down. Trade will end and they will lose.
yep
They think that they can keep getting away with the same nonsense they always have, but there is a new sheriff in town. It is all about who will blink first. It probably won’t be President Trump. He has their number. It does make for some good entertainment.
Let’s start a tariff that charges anyone in Europe that uses Facebook, Google, Amazon, Twitter, SnapChat, etc. A small amount per person, 9 euro per year per site. That would add up quickly.... All of these would be free, of course, to Americans here in the USA
I see wuite a few smart cars in my neck of the woods. But they’re so small and light weight that trying to drive them in the interstate is difficult as they tend to get blown around. But in the west where things are far apart and you rack up the miles, fuel economy is a must. And flex fuel is a buck a gallon cheaper than regular. In these parts, that means $1.60/gallon thereabouts.
This is not about cheap labor or cheap goods.
Trump is working to convince the EU to buy more American cars which they presently will not allow into their country.
He has the winning argument.
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