Sunday, June 10, 2018

The Madness Continues: Merkel Says EU Will Retaliate Against Trump Tariffs


Yes, the EU plans to punish EU consumers as a result of Trump tariffs.

German Chancellor Angela Merkel said in a new interview Sunday that the EU would implement counter-measures in response to President Trump's decision to levy tariffs on the 28-member bloc, reports The Hill.

“So we won’t let ourselves be ripped off again and again. Instead, we act then too,” Merkel told German broadcaster ARD, according to Reuters.

The chancellor also addressed concerns that Trump would hit back by implementing tariffs on German vehicles, saying, “First of all, we’ll try and see if we can prevent this... And then hope that the EU will respond again in the same unity.”

-RW  

4 comments:

  1. This comment has been removed by the author.

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  2. Someone help me out. Who said tariffs are what what you do to yourself what your enemy does to you in a time of war?

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  3. "What caught my eye was a statement by Senator Jack Watson. He was Majority Leader in the Senate and was commenting on the growing debate in Congress over the Smoot-Hawley Tariff Act. What he said was that it looked like it would be impossible to limit the act to just agricultural goods. That may not sound like much, but let me assure you Watson's statement was the beginning of the end of the Bull Market in the Twenties.

    "...I was out of all stocks I felt might be affected by the tariff. I missed some of them, because there was no way to guess just how broad that bill would become..."

    --W E Hutton, from a Sidebar, "The Crash and Classical Economics" Jude Wanniski, WSJ , Friday, October 26, 1979

    “First of all, we’ll try and see if we can prevent this... And then hope that the EU will respond again in the same unity.”

    --Angela Merkel

    We're thiiiiiis close.

    CW

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