The EU has a 10% tariff on cars imported from the USA
There's quite a bit of difference between a manufacturing commodity like steel and a finished product. Trump already put a tariff on washing machines. No one squawked. This is quite different.
Trump also mentioned a "mirror" type situation, where down the road he wants to mirror tariffs imposed by other countries on us with identical tariffs on them.
That is true Trade War, sounds like to me.
Well, enjoy that "raise" from the tax cuts while you can, folks. Sounds like we're going to spending it all soon enough.
But it would be a trade war that will cause the other countries to lose
more than America.
Our companies pay tariffs in most every country we deal with and in
those slim instances where we apply a tariff it is an unequal amount
to what our country pays them.
The Donald is not backing off because he knows this. Europe, especially,
is vulnerable. We could put a massive hurt on their profits that they cannot
recoup anywhere else. They can't swap out the American Market for Peru
and get the same profits.
The best move for most foreign countries is not to go to war at all.
Just issue some politically correct statement, that will have throngs of
Europeans marching in the street singing the praises of the European continent and it's 700-year old buildings and homes and leave it at that.
Maybe they can boycott America as a tourist destination. I, for one,
would be upset not getting to see the atypical European, with his undersized
shirt, short shorts, knee high black socks and wingtips walking around
Disney World. I would have to reserve all my laughter for Goofy, instead
of laughing at skinny ass, European Men, that obviously do not understand
the function of a mirror.