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[Xando]

She said in a interview with german public broadcaster today. EU is prepared and able to retaliate within 2 days

What if Trump imposes tariffs on European steel? "We will have to react and to retaliate", says EU Trade Commissioner @MalmstromEU @zdf.

https://twitter.com/StefanLeifert/status/883234176312520704

Trade war is coming

 

[DarthMasta]

The US still uses EU steel? I thought it was all China now...

 

[Christian]

Wait, someone is talking about trade tariffs? I thought everyone was talking about Podesta.

 

[Alucrid]

edit: nevermind misread

 

[alt27]

The US still uses EU steel? I thought it was all China now...

They basically said even if the US were targetting other allies like China, they would still put on tarriffs on US agriculturals and other markets into EU.

https://www.theguardian.com/business/2017/jul/07/eu-battle-mood-us-protectionist-steel

 

[Xando]

The US still uses EU steel? I thought it was all China now...

US imports lots of german, french and british steel IIRC

 

[djplaeskool]

The US still uses EU steel? I thought it was all China now...

Data from 2015/2016 show we import as much or more from Canada, Brazil, Korea, EU, Mexico and Japan

 

[slit]

There are U.S steel companies that own plants in Europe. The Chinese deserve this with their dumping policies but I don't know why Europe gets dragged in too.

 

[Vidal]

Replace Mexico with Germany

 

[Jasup]

They basically said even if the US were targetting other allies like China, they would still put on tarriffs on US agriculturals and other markets into EU.

https://www.theguardian.com/business/2017/jul/07/eu-battle-mood-us-protectionist-steel

From that article:

The EU, it is understood, is likely to retaliate by focusing on US agricultural products. Officials confirmed one target might be bourbon whiskey, one of the main exports of the state of Kentucky, the home of Mitch McConnell, the US Senate majority leader.

The EU is hoping to divide the Republicans by warning that Republican protection for the rust best will lead to EU retaliation in the American farm belt.
[...]

Total US steel imports last year amounted to 26m tonnes, of which 3.2m were shipped from the EU by companies such as Thyssenkrupp AG, Salzgitter and Celsa Group. The EU shipments were worth €2.8bn ($3.1bn), according to the European Steel Association.

So basically, yeah.

 

[entremet]

Man, I hate populism.

 

[RinsFury]

Can Trump stop fucking up the country for just one god damned day? Please?

 

[djplaeskool]

"We should not have made this bargain."

 

[Lo-Volt]

Good. Y’all trying to roll on the EU and tell it what to do in return for nothing, and you think they won’t fuck with you? Pfft. Foolish.

Mark that well, Theresa. If they’re confident or angry enough to go at Trump, how well will you do? I’m rubbing my hands imagining that.

 

[Chmpocalypse]

As devastating as this would be, I really can't blame them. I do blame the idiot-in-chief and his stupid racist supporters, though.

 

[Sölf]

Let's hope this won't happen. Else this could escalate in all kinds of different direction, of which none is probably any good.

 

[Prophaniti]

Replace Mexico with Germany

God, that movie was racist

 

[slit]

Let's hope this won't happen. Else this could escalate in all kinds of different direction, of which none is probably any good.

I don't see how it doesn't. Trump made this pledge and if it's one thing he wants to protect it's his reputation with blue collar workers.

 

[Hari Seldon]

Doesn't the EU impose a VAT on US imports? How is that not a tariff already?

 

[Tacitus_]

There are U.S Steel companies that own plants in Europe. The Chinese deserve this with their dumping policies but I don't know why Europe gets dragged in too.

From the Guardian article linked above

The EU trade commissioner, Cecilia Malmström, has said she is “extremely worried” about a US threat to curb steel imports for national security reasons, saying the step could trigger protectionist reactions around the world.
---
“Even if we are not the target, we will be collateral damage in this process, which is going to hit Europe very hard,” Malmström said. Other countries likely to be affected include South Korea and Japan.

Seems like a "don't do it you idiots" measure.

 

[kmax]

How is that America First policy going along?

Oh, I mean America alone.

 

[Walshicus]

Doesn't the EU impose a VAT on US imports? How is that not a tariff already?

...? VAT is applied to almost all goods sold in the EU regardless of origin.

 

[Mr.Mike]

Doesn't the EU impose a VAT on US imports? How is that not a tariff already?

It's imposed on everything? It doesn't discourage buying US goods over other goods.

 

[Escape Goat]

And this is what tariffs do. Just make everything more expensive.

 

[Hari Seldon]

...? VAT is applied to almost all goods sold in the EU regardless of origin.

It's imposed on everything? It doesn't discourage buying US goods over other goods.

Oh ok I thought it was only on imports. So it is just the equivalent of a US sales tax then.

 

[TheLaughingStock]

Doesn't the EU impose a VAT on US imports? How is that not a tariff already?

No it's not a tariff, but tariffs, subsidies, and non-tariff barriers exist to protect both sides. G20 members maintain the highest number of trade barriers.

 

[Jasup]

Oh ok I thought it was only on imports. So it is just the equivalent of a US sales tax then.

It's comparable, but not the same.
https://en.wikipedia.org/wiki/Value-added_tax

 

[UnluckyKate]

Wait, someone is talking about trade tariffs? I thought everyone was talking about Podesta.

I laughed too hard