BY C STONE | STONE NEWS NETWORK ||| WASHINGTON, D.C.
Sourec: AP and Reuters
U.S. President Donald Trump has announced he will be applying a 30% tariff against Mexico and the European Union.
via AP:
Former U.S. trade negotiator Wendy Cutler said that Trump’s recent moves “underscore the growing unpredictability, incoherence and assertiveness’’ of his trade policies.
“It’s hard for trading partners to know where they stand with Trump on any given day and what more may be coming their way when least expected,’’ said Cutler, now vice president at the Asia Society Policy Institute.
If the EU applies more tariffs, the US will increase them and result in a trade barrier so large it would not be able to sustain trade with the United States of America.
In addition to the tariffs applied to Brazil and Canada for August 1, consumers will be left with few options that are cheaper and result in substantially higher prices of goods. This is especially true for coffee, where Brazil exports a large amount to the United States.
This is economic warfare that is applied at a scale never seen before by the United States - against allies who are used to a fair and balanced trade relationship.
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