EU warns that its trade with the US could be effectively wiped out if Trump follows through on his threat | CNN Business
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The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.

The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.

A tariff of “30%, or anything above 30%… has more or less the same effect. So, practically it prohibits the trade,” Maroš Šefčovič, the EU’s trade commissioner, said as he arrived ahead of an EU ministerial meeting in Brussels on Monday.

Šefčovič said it will “be almost impossible” for the bloc to continue its current level of trade with America if that new tariff rate is implemented on August 1 – the date stipulated by US President Donald Trump in his letter to the EU on Saturday.

  • realitista@lemmy.worldEnglish
    4·
    7 hours ago

    You really want to hurt the USA? Tax their financial and technical services. Tax Netflix, Amazon, Microsoft, all US financial services companies, etc.

    Make your own FOSS standard OS’ for use on E.U. devices. Make your own clouds and make API wrappers which perfectly mimic Amazon and Microsoft cloud API’s for easy migration.

    The US stands to lose a lot more than the E.U. when services is brought into the picture. Bend that orange fucker over and show him how it’s done.