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0 sats \ 2 replies \ @Solomonsatoshi 5 Apr \ on: Liberation Day and the Double Standards of EU Trade Policy econ
Fact check-
The US already restricts imports of agricultural products to protect its own domestic dairy sector via import quotas. New Zealand (the worlds largest dairy product exporter) has for decades sought to see the removal of those dairy product imports quotas, with no luck. Despite New Zealand imposing no quotas on any product from any country.
It is true Europe also imposes quotas (on New Zealand and other agricultural exporters) and probably more wide ranging than the US has done.
As you note the tariffs are about seeking to reduce both the US govt deficit and the chronic US goods trade deficit...at a time when the debt servicing of its $36 accumulated debt is now almost $1Trillion annually. But why is Trump also insisting upon gifting himself and wealthy corporate donors massive tax cuts at the same time?
Europe has maintained its agricultural import quotas and trade obstructions for decades, but USA is now imposing upon itself massive tariff/trade barriers with the entire world.
This will almost certainly push the rest of the world closer together, especially into the arms of China which already offers the most powerful and attractive trade opportunities.
Alienating traditional allies in everywhere USA makes it much easier for them to consider ditching their dependence upon US institutions and protocols like the antiquated slow and expensive SWIFT trade payments network, and consider newer digital payments protocols like Chinas mBridge.
Fact check - You have no idea how politics work in the EU and in what way indirect protectionism and harmonization attacks external competitors. The EU is the epicenter of hostile trade politics. It is time to dismantle how they are blocking trade via climate scam regulation and other bs. You should start here.
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100% agree that the EU puts up a lot of trade barriers- especially in agricultural products and other areas...and they certainly do not serve to maximise the EUs economic performance but may in some cases be driven by strong lobby groups and cultural values which may or may not argue that considerations other than maximising trade are also valid.
Many country impose trade barriers around agriculture to enable/preserve self sufficiency in food production and to preserve traditional farming cultures- eg India, China and Japan.
Do not however see climate change science as a scam - the overwhelming scientific consensus is that human activity is changing the climate and that caution and preventative action is urgently justified.
The US has ditched the Paris agreement and now joins sociopath rogue states Iraq Iran Turkey Libya Angola Sudan Yemen and Eritrea as a non signatory - a nation saying screw you to the rest of the world, environmental stability and common sense.
Now hes done it again with his irrational trade obstructing and unjustified tariffs too.
Whether he is harming the rest of the world as much as the US itself is debatable but what is certain is the USA is increasingly an object of pity and horror.
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