When I first saw this, I thought they would do better than that, and I lost my mind. I thought they would hold out against this stupid tariff nonsense. Okay, it’s only *some* tariffs but still! Seems the rest of the world isn’t too brave, either. People need to tell Agent Orange to bugger off and stop with this crap. I know I don’t know the background on this yet (I have to finish reading the article), but still!
Ah HA! My bad. From Reuters: “The European Commission said on Monday it had offered a ‘zero-for-zero’ tariff deal to avert a trade war with U.S. President Donald Trump as EU ministers agreed to prioritise negotiations, while striking back with targeted countermeasures next week. The 27-nation bloc faces 25% import tariffs on steel and aluminum and cars and broader tariffs of 20% from Wednesday for almost all other goods under Trump’s policy to hit countries he says impose high barriers to U.S. imports.” Okay, that’s definitely better than the other headline I saw. WHEW. I have egg on my face. Embarrassing!
Ministers who oversee trade met on Monday to debate the EU’s response and discuss relations with China. That’s not exactly a good sign. If they move away from getting our products and selling products to us, it will add even more uncertainty to the US and crater our economy even more. However, many said it was good to open negotiations first before pulling the trigger on reciprocal tariffs. “EU Trade Commissioner Maros Sefcovic said discussions with Washington were at an early stage and that he had offered “zero-for-zero” tariffs for cars and other industrial products, expressing hope that discussions could begin.” We can hope our country listens, but this is Traitor Tot we’re discussing.
Here are some more quotes. The first part made me laugh! “However, Trump’s top trade adviser on Monday dismissed tech-billionaire Elon Musk’s push for “zero tariffs” between the U.S. and Europe, calling the Tesla CEO a “car assembler” reliant on parts from other countries. “While the EU remains open to – and strongly prefers – negotiation, we will not wait endlessly,” Sefcovic said, adding the bloc would push ahead with countermeasures and steps to avoid floods of diverted imports.” I’m hoping this shows the beginning of Muskrat’s star falling out of the heavens. (Please?)
The EU is readying return tariffs, and well they should. There is some concern about the threatened tariff of 200% on European alcohol. France and Italy, which are the biggest exporters, made the point that they were concerned about this. The list is being finalized, but it will be smaller than they originally wanted because of EU countries’ complaints. The first set will be ready to implement on April 15, with others following a month later. The EU is looking at a larger set of countermeasures by the end of April as a response to US cars and broader tariffs. And well they should! We can have the US isolated even more! After all, the stock market is already on a roller coaster because of this stupidity. People have lost so MUCH already. Will it ever come back? Kinda makes me happy I don’t have a retirement account anymore, and I shouldn’t have to be!
The EU is ready to consider all retaliatory options. EU Trade Commissioner Maros Sefcovic mentioned one of the tools they have is the Anti-Coercion Instrument, which allows them to target U.S. services or to limit U.S. companies’ access to EU public procurement tenders. The EU is prepared to use everything possible to protect every single market. Their members are open to keeping options open, but with a stress on proportionality. “Outgoing German Economy Minister Robert Habeck said the EU should realise it was in a strong position – if it was united.”
I am quite happy to say I was wrong. I ought to know better than to fly off the handle without any information beyond a headline, right? This will teach me I need to do more research before losing my mind. I am mentally apologizing to the EU. People still need to tell the Mango Mandarin Messiah to bugger off. I hope we can come out of the tariff war. I don’t know if it will happen, and living in uncertainty is exhausting.
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