Trade War unveils, USA increasingly hostile against the European Union.
Very recently I posted: European Union going to a trade war with USA and now it seems that Trump makes another hostile move against the EU.
A tooth for a tooth
US President Donald Trump has threatened the European Union with import tariffs on European cars if the EU decides to retaliate for the introduction of tariffs on imports of steel and aluminum announced by him.
The DPA agency notes that this threat will primarily affect the German automotive industry. In 2017, the sale of German new cars in the US grew by 1 percent. up to 1.35 million cars.
Import tariffs on steel, aluminium and and other metals
The US president announced on Thursday that he will introduce tariffs on imports of steel and aluminium next week; this is to help American companies that - according to the president - have suffered through unfair trade agreements.
Steel imports are to be subject to a tax of 25%, and aluminum - 10%.
Trump said he chose to impose tariffs because the United States "needs great steel and aluminum producers for defense purposes."
Economies may get hurt
As the history proved on many occasions, there's no winners as a result of wars. People get hurt, economies get hurt, so is it really worth it Mr. Trump?
The next United States presidential is scheduled for Tuesday, November 3, 2020
Safe heaven. Crypto a new gold
Bitcoin and other cryptocurrencies are behaving recently more like a safe heaven assets like gold. They proved resilient to economic scary news and despite their high volatility may prove to be safer then stock or real property in case the unveiling trade war leads to another global recession.
I wish the UK would just hurry up and Brexit from the EU. The rule makers of the EU are crippling most countries in Europe and profiteering from the demise. Good on President Trump for standing up to them.
Thanks for sharing your opinion. I must admit I don't agree with it, but I guess the life would be boring if there would be only one point of view.
It sure would be boring. Plus it's always good when opposing opinions can discuss the matter rather than just ripping each other to shreds. So thank you for the democratic response. Take care.