JUST IN: The European Union CAVES To President Trump After He Dinged Them With Tariffs
President Trump announced this week that he has begun negotiations with the European Union (EU) that would work towards ending tariffs on industrial goods. This is in direct response to tariffs imposed on the EU by Trump. Trump said no new tariffs would be imposed while negotiations were ongoing. The EU was bracing for a 25% tariff on automobiles.
“We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods,” Trump said alongside European Commission President Jean-Claude Junckner.
President Trump first floated this idea few days ago:
"The European Union is coming to Washington tomorrow to negotiate a deal on Trade. I have an idea for them. Both the U.S. and the E.U. drop all Tariffs, Barriers and Subsidies! That would finally be called Free Market and Fair Trade! Hope they do it, we are ready - but they won’t!" 5:08 PM - 24 Jul 2018
It appears the EU officials thought it was a splendid idea.
Look, it’s hard for a free market capitalist to endorse the idea of tariffs. They hurt American businesses just as much, if not more than their counterparts in Europe or China or wherever. But President Trump seems to be using tariffs as a negotiating chip like no other president before him and he’s having some success. I think most people would accept some temporary economic discomfort if it pays off in the end for the American people. Will it work with other countries and trading blocs? Time will tell.
Watch the video above for more information about the negotiations.
awe but dang the borders are still open I guess because your donnie could not get mexico to pay for the wall and the clintons etal locked up. oh drain the swamp, if only he had learned some plumbing in stead of how to pay plumbing inspectors off. : BTP Holdings has me bozoed because I keep asking the questions neither him or his donnie can supply an answer for.
awe but dang the borders are still open I guess because your donnie could not get mexico to pay for the wall and the clintons etal locked up. oh drain the swamp, if only he had learned some plumbing in stead of how to pay plumbing inspectors off. : BTP Holdings has me bozoed because I keep asking the questions neither him or his donnie can supply an answer for.