this post was submitted on 27 Mar 2025
77 points (98.7% liked)

Economics

922 readers
43 users here now

founded 2 years ago
77
Trump threatens 'far larger' tariffs if EU and Canada unite to do 'economic harm' to the U.S. (www.cnbc.com)
submitted 4 months ago* (last edited 4 months ago) by MicroWave@lemmy.world to c/economics@lemmy.world
15 comments fedilink hide all child comments
 

Summary

Trump threatened "far larger" tariffs on the EU and Canada if they unite to harm the U.S. after announcing a 25% tariff on foreign-made cars and parts, effective April 2 and May respectively.

The tariffs aim to boost U.S. car production but may inflate prices by $5k-$10k per vehicle, harming both U.S. and foreign automakers.

Canada condemned the move as a "direct attack," while the EU signaled potential retaliation.

Global markets reacted negatively, with car stocks dropping amid fears of escalating trade tensions.

you are viewing a single comment's thread
view the rest of the comments
[–] wise_pancake@lemmy.ca 3 points 4 months ago

Honestly this just makes us have to work together even more.

Nobody is going to accept losing trade and jobs to the US without bothering with alternatives. That's the stupidest thing you could do.

Putting up a bigger barrier just makes us need each other more.