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(Now) Trump threatens to impose 25% tariffs on EU goodswww.ft.com/content/2f0288f6-3f6a-4334-b666-3f0122981842
305 sats \ 10 comments \ @Coinsreporter 26 Feb econ
Non-paywalled: https://archive.is/YAlbg
Donald Trump said he had decided to slap 25 per cent tariffs on imports from the European Union, as he lashed out at the bloc, saying it “was formed to screw the United States”.
Time to pack up for ECB, I guess.
“We have made a decision and we’ll be announcing it very soon. It’ll be 25 per cent,” the US president said during a cabinet meeting on Wednesday.
How soon because the markets won't stop bleeding until he stops shitting out?
The US president said the levies would be applied “generally”, though he specifically mentioned that they would hit car imports.
Will be interesting to see how does Europe respond tomorrow?
Do you also see something's rigged to bring down all the markets back to those levels where his allies who shilled big bags in the elections canale profits?
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21 sats \ 0 replies \ @TheMorningStar 27 Feb
Yes, the ties are broken!
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20 sats \ 7 replies \ @Undisciplined 26 Feb
I think he's serious about trying to replace income taxes with excise taxes (including tariffs). The only way to raise significant revenue is to levy them on major trade partners and that's exactly what he's been doing.
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26 sats \ 6 replies \ @Coinsreporter OP 26 Feb
This is the worst idea because it'll fire back. What governments don't want to do is real work. Every nation has resources reserved for government, like land, but you'd never heard them use it for producing anything. They don't utilise the resources but want to pick pocket either their own citizens or the companies or the other nations.
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20 sats \ 5 replies \ @Undisciplined 26 Feb
No kidding, but I'd still prefer consumption based taxes over income or wealth based ones. Now, we might end up with both.
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22 sats \ 4 replies \ @Coinsreporter OP 26 Feb
consumption based taxes
Excuse me! Don't you already have both?
Because we have both ever since I've known taxes.
We pay income tax + taxes on goods and services (GST).
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20 sats \ 3 replies \ @Undisciplined 26 Feb
There's no national sales tax and current tariffs are very low. The vast majority of US taxes are based on income or wealth, which is really bad from an incentive standpoint.
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33 sats \ 2 replies \ @Coinsreporter OP 26 Feb
I'm feeling pissed off because I was thinking that India has so much concession in taxes that's not found anywhere else. But I see now how you guys have gotten so much rich. You don't pay taxes on goods and services but we do. Why? Why?👀
Still I can buy 10 eggs in 1 dollar 🤣
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0 sats \ 0 replies \ @MANI 26 Feb
This mofo has ruined a perfect bull run!
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