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EU to Trump on tariffs: Go ahead, make our day. (www.politico.eu)

submitted 5 months ago by robotech to c/world@quokk.au

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BRUSSELS — The European Union said on Thursday it was ready to deploy its strongest trade weapon against the U.S. after President Donald Trump threatened to impose sweeping tariffs and scorned the EU as having been created to “screw” America.

“We have an Anti-Coercion Instrument, and we will have to use it,” Agriculture Commissioner Christophe Hansen said in Paris after meeting with his French counterpart Annie Genevard at the Salon de l’Agriculture farming exhibition.

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[–] ryedaft@sh.itjust.works 1 points 5 months ago

No, I think the problem is that the US dollar is overvalued because it's also used as the global reserve currency. If the dollar went down then other places could afford to buy US made stuff and the US would import less. As it is US exports are mainly monopolies (Google, Facebook, AWS, Apple) and weapons that they can bully NATO members into buying (the US is supposed to buy for an equal amount from the countries that buys weapons from them but that isn't happening). There's also agricultural products but the labour used is illegal immigrants that are terribly underpaid.