Wow this administration is f**ing batshit insane. I thought the tariffs would be on raw metals, not anything at all that happens to contain them.
Price I pay is not getting my $20 fairy lights that made my backyard look cute. The price foreign factory workers pay is that they’re out of a job. I don’t think Americans pay the most, but they do pay.
Edit: Clearly people are missing the point Im trying to make here. I’m trying to address the viewpoint that Americans will somehow lose the most, which i don’t think is the case. This isn’t a pro tariff argument. American consumer is the biggest market there is on the planet. Pretending we can just find other buyers is ludicrous. Yes, there will be some jobs affected domestically, but that number will be much higher elsewhere.
The EU is making moves right now to position itself as the preeminent center of world trade.
Losing that position will hurt Americans more than anyone else.
It generally punches below its geopolitical weight, but that’s because it was happy to follow the US when American policies were decent (not great, but good for trade and mostly good for stability). But that’s not a law of nature, things do change, even if it is slow compared to the modern news cycle.
At the same time, there are things to keep in mind:
- this is asking member-states to delegate some of their sovereignty, which is never all easy and always involves quite a bit of horse-trading
- the member-states are perfectly happy to fuck things up on their own and things like growth figures for the eurozone actually mask very different realities depending on the country and its government
- stagnation is a very western point of view, things are still changing quite a lot on the eastern side
- the reference point should be the same situation without the EU. I am not sure, for example, that things would be improved with a trade war between Germany and France, the baltics fending off for themselves, or each country having its own import requirements and sets of tariffs.
I do also strongly believe that the Eurozone or a rather a monetary union without a fiscal union hasn’t been the best idea as far as south-north goes.
And then you have countries which are doing quite well despite retaining their free-floating currency.
Poland is an interesting case in that you can retain a free floating currency and your own monetary policy and still do quite well.
They existed long before the EU was called the EU, but that is misleading.
Both the customs union and the common market were created in 1957 with the European economic community, which got a new name and a coat of paint to become the EU in 1993. Both are fundamental parts of the European project. They would not exist without the EU and the EU would not exist without them.