Summary
Trump threatened to impose “far larger” tariffs on the EU and Canada if they unite to harm U.S. economic interests.
The warning follows his decision to set a 25% tariff on foreign-made cars and parts, starting April 2, expected to generate over $100 billion annually.
Markets reacted negatively, with automaker stocks dropping. Canada and the EU criticized the move, warning of potential retaliation.
Analysts predict the tariffs will increase car prices by $5,000 to $10,000, raising inflation concerns amid low consumer confidence.
Sabin10@lemmy.world 1 week ago
They’re increasing trade between Canada and the EU because of the tariffs he’s imposing. If that causes “economic harm” to the US, that’s not their problem and stoger tariffs are going to make the problem worse for the US, not better. It’s like Trump really doesn’t understand what tariffs actually are.
DrBob@lemmy.ca 1 week ago
He is genuinely stupid. He’s infuriated because people push back.
pdxfed@lemmy.world 1 week ago
Every time he escalates you know you’re on the right track.
kryptonianCodeMonkey@lemmy.world 1 week ago
Also if they can mostly or completely replace trade with the US, which is far easier when the US is fucking over nearly every trade partner, then they are completely unaffected by US tariffs. So how is this even a threat? “If you don’t buy my whiskey, I will charge Americans triple for your maple syrup!” Cool, I’m definitely not going to buy your whiskey now, and I’m going to sell my syrup to someone who also stopped buying syrup from you while I buy their whiskey. You can sit over there and just pretend like your tariffs are a threat and buy your own whiskey and make your own syrup. IFGAF.
stoly@lemmy.world 3 days ago
Someone like 40 years ago told him what they are. He did not understand and keep repeating the mistake.