Here we go again with new tariffs! The stock market took a hit last week, and now some of our closest security partners in the European Union are retaliating with their own trade actions. They are imposing new duties on U.S. industrial and farm products in response to the Trump administration’s decision to increase tariffs on steel and aluminum imports to 25%.
The EU’s measures will affect goods from the United States worth a staggering 26 billion euros ($28 billion). These tariffs won’t just target steel and aluminum products, but also textiles, home appliances, and agricultural goods. Specifically, they are aimed at products made in Republican-held states, such as beef and poultry from Kansas and Nebraska, and wood products from Alabama and Georgia. So, MAGA world, get ready to pay the price for your misguided support of Trump.
European Commission President Ursula von der Leyen stated that the EU “will always remain open to negotiation.” However, in response to the U.S. tariffs, the EU is implementing countermeasures worth 26 billion euros. The American Chamber of Commerce to the EU warned that these tariffs will harm jobs, prosperity, and security on both sides of the Atlantic.
The new tariffs will cost companies billions of dollars and increase uncertainty in two of the world’s major trade partnerships. Companies will either absorb the losses and see reduced profits, or more likely, pass the costs on to consumers in the form of higher prices. This will lead to increased prices in both Europe and the United States, putting jobs at risk.
Is this really what voters expected? It’s time to rethink our trade policies and work towards mutually beneficial agreements. Let’s prioritize job creation, economic growth, and stability for all parties involved.
Maybe tell Trump to retake Economics 101 because he really has not got a clue.
Blue Press Journal 