Macron Urges Halt to U.S. Investments in Response to Trump’s Tariffs
The French president’s push for a unified EU stance may alienate allies and complicate relations with key industries.
The French president’s push for a unified EU stance may alienate allies and complicate relations with key industries.
The European Union is angry with Trump because its “protectionist racket has finally hit a wall.”
A study conducted in six countries showed Westerners support retaliatory tariffs against the U.S. even though they are aware it will hurt their pocketbooks.
The tariffs, which are due to start on April 3rd, could cost the European car industry several billion euros and put up to 25,000 jobs at risk.
Trump has warned that if Brussels retaliates, “far larger” measures will be unleashed.
Trump targeting allies doesn’t excuse the EU’s imposing new tariffs that taxpayers will have to bear, rather than addressing European protectionism.
Other White House measures include the threat of 100% duties on BRICS countries, escalating the global trade war.
Macron and Scholz would prefer immediate retaliation, while others would rather de-escalate.
Europe should expect a mix of positive and negative effects from a Trump presidency. With a little luck, the positive effects will outweigh the negative ones.
As the economic elite comes to Washington for the IMF-World Bank meetings, they cry about Trump’s idea for trade tariffs. Frankly, they have no idea what they are talking about.