Let's see how this plays out...
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Trump will backtrack. That's if there is anyone left in the White House that can talk some sense into him....
The E.U. says they will put tariffs on Levis jeans, guess what ? the great American jeans company no longer has any mfg. plants in N. American. Years ago they moved all production to China & Africa !
By the way Just try to buy a bottle of Jim beam in Germany, France or Great Briton...... Good Luck !
Harley Davidson is the name brand company that will be hit the hardest by a trade war. They'll go under.
dilligaff posted:The E.U. says they will put tariffs on Levis jeans, guess what ? the great American jeans company no longer has any mfg. plants in N. American. Years ago they moved all production to China & Africa !
By the way Just try to buy a bottle of Jim beam in Germany, France or Great Briton...... Good Luck !
The EU tariffs are already much larger than US tariffs. US puts a 2.5 percent tariff on cars from EU. EU places a 10 percent tariff on US cars.
I don't like trade wars and I don't like our products singled out by protectionist countries, so I wish we would quit doing trade deals and just charge reciprocal tariff rates and/or give equal subsidies and let the rest of the world set the rates. That would be the closest thing to free trade in a long time.
The Republic financed itself with a combination of excise taxes (alcohol was the big revenue source) and tariffs until the income tax was introduced by amendment in the early nineteen hundreds.
Comparing Trump's proposed tariffs to Smoot-Hawley is ridiculous. Smoot-Hawley was imposed on 20,000 different items at 59.1 percent.
The companies will just pass the cost on to the consumer. Trump just basically put another tax on the American people.
What the U.S., Canada and Mexico Want From a New NAFTA
The three countries bring very different priorities to the table as they begin renegotiating the North American Free Trade Agreement
https://www.usnews.com/news/ar...ant-from-a-new-nafta
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Why U.S. tax reform is good for NAFTA
https://www.theglobeandmail.co...fta/article37247433/
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What Would Happen if the U.S. Withdrew From Nafta
https://www.nytimes.com/2017/1...drew-from-nafta.html
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How NAFTA Can be Improved to Benefit America and Free up Trade
The US exports large amounts of scrap steel and iron. I'd suggest that using that in the US would bypass tariffs.