EU warns that its trade with the US could be effectively wiped out if Trump follows through on his threat (www.cnn.com)

submitted 3 weeks ago by SatansMaggotyCumFart@piefed.world to c/conservative@sh.itjust.works

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cross-posted from: https://sopuli.xyz/post/30380510

The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.

A tariff of “30%, or anything above 30%… has more or less the same effect. So, practically it prohibits the trade,” Maroš Šefčovič, the EU’s trade commissioner, said as he arrived ahead of an EU ministerial meeting in Brussels on Monday.

Šefčovič said it will “be almost impossible” for the bloc to continue its current level of trade with America if that new tariff rate is implemented on August 1 – the date stipulated by US President Donald Trump in his letter to the EU on Saturday.

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[-] humanspiral@lemmy.ca 3 points 3 weeks ago

Solution is obvious. Just spend 5% of GDP on US weapons, and give US tech tax free access to skynet spying on its citizens. Promise war on Russia to increase the dependency. 30% tariffs is actually the reward for this subservience.