this post was submitted on 27 Mar 2025
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Economics

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Trump threatens 'far larger' tariffs if EU and Canada unite to do 'economic harm' to the U.S. (www.cnbc.com)
submitted 1 week ago* (last edited 1 week ago) by [email protected] to c/[email protected]
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Summary

Trump threatened "far larger" tariffs on the EU and Canada if they unite to harm the U.S. after announcing a 25% tariff on foreign-made cars and parts, effective April 2 and May respectively.

The tariffs aim to boost U.S. car production but may inflate prices by $5k-$10k per vehicle, harming both U.S. and foreign automakers.

Canada condemned the move as a "direct attack," while the EU signaled potential retaliation.

Global markets reacted negatively, with car stocks dropping amid fears of escalating trade tensions.

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[โ€“] [email protected] 4 points 1 week ago (1 children)

There's an old saying about digging if you find yourself in a hole.

[โ€“] [email protected] 1 points 1 week ago

I've seen a person demonstrate how you can dig yourself out of hole. It takes hard work and ingenuity but it is possible.