this post was submitted on 27 Mar 2025
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Economics

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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
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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.

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[–] ramble81@lemm.ee 2 points 4 months ago

(In)directly, I hate how much this isolates the US even further. We use imperial measurements when everyone uses metric, we will have our own standards with more and more stuff that will look vastly different than the rest of the world. It just makes later integration that much harder. I think of how NK and East Germany were/are where it’s like an odd fever dream of reality.