Oh, how the European hypocrisy is in overdrive on the tariff issue. According to BBC U.K. Prime Minister Theresa May and President Trump had a phone call where the British leader expressed “deep concern” over the Trump administration’s pending tariff’s on Steel and Aluminum.
Theresa May has told Donald Trump of her “deep concern” at his plan to impose tariffs on steel and aluminium imports into the US.
Amid an escalating war of words between Washington and the European Union, the Prime Minister told the US President that “multilateral action was the only way to resolve the problem of global overcapacity in all parties’ interests”, a Downing Street spokeswoman said. (read more)
Mrs. May must think Americans are unambiguously stupid because it was less than two years ago when the U.K. urgently applied tariffs against Chinese steel in an effort to stave off the losses within their own steel industry:
APRIL 2017, – BRUSSELS (AP) — The European Commission has imposed anti-dumping duties on steel products from China to stop them flooding Europe’s struggling steel market.
The Commission said Thursday that an investigation has confirmed that Chinese hot-rolled flat steel has been sold in Europe at dumping prices. The Chinese exports will now be taxed with duties ranging from 18.1 percent to 35.9 percent. (read more)
President Trump is entirely correct in his prior tweet:
The $20 trillion U.S. economy is the market, the customer, that all European countries want/need access to. We are the customers in the equation. We can crush them in any trade conflict. Apply a 20% tariff to imported Audi’s, or simply apply a reciprocal trade tariff toward their auto’s identical to those they apply on ours…. wait and see just how long Germany chooses to play stupid.
Pro-tip, they wouldn’t last a day without our business.
President Trump has the highest approval rating compared to the leaders of largest economic countries in Europe. However, this shouldn’t come as a surprise because it was evident in Germany’s recent election that Merkel -in victory- had less support in Germany than President Trump holds in the U.S. Go figure…