Trump tariff of 15% means European exporters will face more than triple the average 4.8% levy now in force
The US-EU trade deal, clinched in a ballroom at Donald Trump’s golf resort in Scotland on Sunday, has been criticised by France’s prime minister and business leaders across Germany.
The deal, which will impose 15% tariffs on almost all European exports to the US including cars, ends the threat of a punitive 30% import duties being imposed on Trump’s 1 August deadline for a deal, but it is a world apart from the zero-zero import and export tariff the EU offered initially.
It also means European exporters to the US will face more then triple the average 4.8% tariff now in force, with negotiations to continue on steel, which is still facing a 50% tariff, aviation, and a question mark over future barriers to pharmaceutical exports.
I keep hearing this 15% tariff from EU to US. What’s EUs counter tariff to from US to EU. 15%? 10%? 0%? Wtf.
Merz hailed the deal, which was clinched in a ballroom at Trump’s golf resort in Scotland, saying it avoided “needless escalation in transatlantic trade relations” and averted a potentially damaging trade war.
Nothing about this “deal” prevents Trump from being Trump.
EU caved, and that’s a massive show of weakness.
donald: I am altering the deal. Pray I do not alter it any further
I urge my fellow Europeans to have our representatives reject this pathetic proposal.
As an American I also urge you guys to do that.
Europeans, impose infinite tariffs on Trumponia wares – don’t buy them at all if you have a chance.
Too many are helplessly dependent on MS, Apple, Google, Facebook, Amazon, etc.
They can’t even imagine freedom from them.
That’s definitely where the world is headed. As an American, my stomach drops every time I think about what exports from the United States are going to look like when the quarterly numbers come out. No one wants to buy from us anymore because… Well… We’re a bunch of fucking assholes.
I will buy the Heinz because the ketchup here is horrendous, otherwise there is usually a perfectly suitable alternatives to US goods
I’m enjoying finally being able to find Canadian goods everywhere.
And it’s all thanks to Trump. I buy very few US goods now. If there’s an alternative, almost any alternative, I take it.
The good (or bad, depending on how you look at it) part is that a good chunk of the world thinks Americans are assholes and buys their shit anyway, so while exports to Europe and Canada aren’t looking hot places like China or the Middle East aren’t going to change their consumption habits over Trump being Trump.
It’s not often that I agree with this man.
EU caving to ridiculous US policy? Must be a day ending in y
Germany, Italy, and Ireland are the countries exporting the most to the US. I imagine they are happy. That Ireland is the third, over France, must have something to do with their shameful fiscal paradise thing and tech companies, I guess.
Impose a tax to companies transferring money into foreign countries. Let’s say 4.8% to money transferred to the US. And then let the Tech oligarchs protecting trump feel the loss and then renegotiate.
Don’t forget that guy is about to revive the yellow vest in a few weeks with his very violent and quasi-aristicratic budget. So he knows about dark days
