EU says it will react firmly against US reciprocal tariff hikes

EU says it will react firmly against US reciprocal tariff hikes

From brecorder.com

The European Commission said on Friday it saw no justification for U.S. President Donald Trump’s proposed “reciprocal” trade policy and would react “firmly and immediately” against tariff increases resulting from it. The Commission, which coordinates trade policy for the 27-nation European Union, described the proposed policy as a step in the wrong direction. “The EU maintains some of the lowest tariffs in the world and sees no justification for increased U.S. tariffs on its exports,” the Commission said in a statement. The European Union’s average applied tariff on imported goods was among the lowest ... (full story)

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Feb 14, 2025 7:25am

Quoting Patso

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The morons in the EU don't understand simple logic. You put tariffs on us, we "reciprocate," it's just that simple.

Ignored

but as Trump said, the thieving European VAT is also a tax imposed on imports from the US, so VAT must be added to the tariff, which means 25-30% more expensive American products. I support Trump on this, VAT is a thieving tax on money that has already been taxed once.

I hope Trump impose 25% + taxes on exports from the EU to the USA

Patso

Feb 14, 2025 7:20am

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The morons in the EU don't understand simple logic. You put tariffs on us, we "reciprocate," it's just that simple.

Trader#6748

Feb 14, 2025 7:14am

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Hey EU... what part of " Reciprocal " do you not understand ??

Foxikus

Feb 14, 2025 7:15am

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like last time?

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cco1569474

Feb 14, 2025 7:27am

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It's time the world knows we finely have a real president for a change and we are not your piggybank. God Bless Trump

Nobody-yet

Feb 14, 2025 9:20am

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Quoting Foxikus

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{quote} Value Added Tax (VAT) was invented in 1954 by Maurice Lauré, a senior official in the French Ministry of Finance and a graduate of the elite Paris Polytechnic who later became the director of the Société Générale bank. and of course I know that VAT is making people poor As long as VAT was 5%, it was bearable, now it's 21% on almost everything in czech republic

Ignored

Good. You seem to know your onions! But Trump's comment is idiotic, because the VAT is a tax paid by customers on goods and services from EVERY producer/manufacturer/service provider/etc., FOREIGN or DOMESTIC, not just Americans. All taxes and the like are "thieving taxes", not just the VAT. VAT was a "clever" way to levy a tax on consumption, but it's unequal across the board. 21% is the highest. Food is at 5% or so. And everything in between. This VAT pisses me off, but Trump's comment makes no sense.

Headland

Feb 14, 2025 8:26am

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...and VAT is an indirect regressive taxation, ie whether you earn £1m or £20k per year, everyone pays the same, so it is not linked to ability to pay, or % of earnings like progressive taxes. The cuts in progressive taxes that have come starting with Thatcher/Reagan (like Uk income tax,) have been paid for over the years partly by the rise in regressive taxes. The shift has been from taxing income to taxing spending.

Nobody-yet

Feb 14, 2025 7:41am

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Quoting Foxikus

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{quote} but as Trump said, the thieving European VAT is also a tax imposed on imports from the US, so VAT must be added to the tariff, which means 25-30% more expensive American products. I support Trump on this, VAT is a thieving tax on money that has already been taxed once. I hope Trump impose 25% + taxes on exports from the EU to the USA

Ignored

Do you really understand what VAT is and who came up with that crap?

Foxikus

Feb 14, 2025 7:54am

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Quoting Nobody-yet

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{quote} Do you really understand what VAT is and who came up with that crap?

Ignored

Value Added Tax (VAT) was invented in 1954 by Maurice Lauré, a senior official in the French Ministry of Finance and a graduate of the elite Paris Polytechnic who later became the director of the Société Générale bank.

and of course I know that VAT is making people poor

As long as VAT was 5%, it was bearable, now it's 21% on almost everything in czech republic