this post was submitted on 04 Apr 2025
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What Canada, Mexico, Japan, the UK, and the European Union should do in response to Trumpโ€™s grossly irresponsible tariffs (robertreich.substack.com)
submitted 1 week ago by Sunshine@lemmy.ca to c/buyeuropean@feddit.uk
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What should other nations do? My strong recommendation to Canada, Mexico, Japan, the United Kingdom, and the European Union is to join together to create a free trade zone that excludes the United States, imposing at least a 10 percent tariff on all imports from America.

They should also threaten to limit American banksโ€™ access to their public stock markets, put limits on what their citizens can invest in American companies annually, and increase taxes and regulations on American digital platforms.

They will be tempted to negotiate and do so individually. They should not. They need to negotiate from a position of strength. A non-U.S. free trade union will give them that strength.

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[โ€“] benjhm@sopuli.xyz 14 points 1 week ago

It took the EU many years to negotiate trade agreements with Canada, Brazil, etc., partly due to internal disagreements within the EU and complicated national ratification procedures. We don't have kings who can just act on their whims.
Also - it's easier to apply tariffs on physical goods, than on digital services which US exports - coordination is needed to avoid loopholes, but that's complicated, slow.
So, the ideas seem good in theory, but how could this be done fast enough ?
Meanwhile only Russia is laughing, they got their multipolar world ...