The European Union has prepared a list of American goods it could target with tariffs if former President Donald Trump wins the US election and follows through on his threat to hit the bloc with punitive trade measures.
New levies against US firms aren’t a base case for the EU and will only be used to retaliate against a move by the White House, according to people familiar with the bloc’s thinking.
The EU’s favored approach would be to seek an agreement with Trump on some areas of common interest such as China, said one of the people, who spoke on the condition of anonymity.
Trump caught the EU by surprise in 2018 when he hit European steel and aluminum exports with tariffs. In that instance, the bloc targeted politically sensitive companies with retaliatory duties, including Harley-Davidson Inc. motorcycles and Levi Strauss & Co. jeans. Since Trump’s win in 2016, the EU has adopted several trade defense tools, including an [instrument](https://ec.europa.eu/commission/presscorner/detail/en/ip_23_6804) to respond to economic coercion.
SanTomasdAquin on
A car made in the United States that is imported into Europe pays 12.5% in import taxes.
A car made in Europe that is imported into the United States pays only 2.5% in import taxes.
In this case, Trump is correct. The European Union is a protectionist block.
OkKnowledge2064 on
Germany is fucked already but damn if Trump is elected you might aswell cancel Germany and build something new
Econ_Orc on
Danish export to Germany and Sweden is declining, but USA export increasing. If the three largest trade partners of Denmark all suffers setbacks, then I guess Danes have to shrug and say it was good as long as it lasted.
That foreign ministetr of ours is going to get stressed flying to all sorts of other countries trying to open up alternative markets.
9 Comments
*From Bloomberg News reporters* [*Alberto Nardelli*](https://www.bloomberg.com/authors/AU7VEMIerb0/alberto-nardelli) *and* [*Samy Adghirni*](https://www.bloomberg.com/authors/AS9nd01eVEc/samy-adghirni)*:*
The European Union has prepared a list of American goods it could target with tariffs if former President Donald Trump wins the US election and follows through on his threat to hit the bloc with punitive trade measures.
New levies against US firms aren’t a base case for the EU and will only be used to retaliate against a move by the White House, according to people familiar with the bloc’s thinking.
The EU’s favored approach would be to seek an agreement with Trump on some areas of common interest such as China, said one of the people, who spoke on the condition of anonymity.
Trump caught the EU by surprise in 2018 when he hit European steel and aluminum exports with tariffs. In that instance, the bloc targeted politically sensitive companies with retaliatory duties, including Harley-Davidson Inc. motorcycles and Levi Strauss & Co. jeans. Since Trump’s win in 2016, the EU has adopted several trade defense tools, including an [instrument](https://ec.europa.eu/commission/presscorner/detail/en/ip_23_6804) to respond to economic coercion.
A car made in the United States that is imported into Europe pays 12.5% in import taxes.
A car made in Europe that is imported into the United States pays only 2.5% in import taxes.
In this case, Trump is correct. The European Union is a protectionist block.
Germany is fucked already but damn if Trump is elected you might aswell cancel Germany and build something new
Danish export to Germany and Sweden is declining, but USA export increasing. If the three largest trade partners of Denmark all suffers setbacks, then I guess Danes have to shrug and say it was good as long as it lasted.
That foreign ministetr of ours is going to get stressed flying to all sorts of other countries trying to open up alternative markets.
https://virksomhedsguiden.dk/content/ydelser/modtagerlande-for-dansk-eksport/97d21f1c-149e-440b-a809-0dc02d94ff46/
The EU has a $200 billion trade surplus with the US. The EU also depends on LNG from the US. A trade war between the two will not be pretty.
That is about as election-interferey as the EU can get and they should.
… and we will probably deserve it.
Archive link?
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