Summary
Donald Trump has announced plans to impose 25% tariffs on the European Union, claiming the bloc was “formed to screw the United States.”
While details are pending, he suggested the levies would target cars and other imports. The EU, a major U.S. trading partner, has vowed immediate retaliation, with potential tariffs impacting $29.3 billion in exports.
French President Emmanuel Macron had attempted to dissuade Trump, urging focus on China instead.
Critics, including economists and conservative media, warn the tariffs could harm the U.S. economy.
But then you export less stuff, hurting your economy, while the US still exports just as much to you, so their economy does better. The counter tariffs are to make it less appealing for you to buy, and US exports go down.
In the end, everyone loses, but it needs to hurt them back to make them realize that.
That’s a really bad understanding of how economies work. On all levels.
That’s the kind of the way Trump thinks.