Before the tariff war unleashed by the moron president, the exchange balance between USA and European Union was in equilibrium (if the services charged by the United States to Europe were taken into account). Everybody gets a little bit richer every day. It was a win-win situation. Europe was not an economic threat to US because she was playing by the rules of the World Trade Organization, which has never been the case of China and some others South East Asia dragoons,.
The European Union has obviously lose because their products will be taxed of 15 %. Ursula didn’t try to play arm wrestling with the morons president. France will export less Cognac or Champagne, Germany less Mercedes and Italy less pasta or olive oil. European economy will slow down, but Europe will search new markets. The situation is a new challenge and the whole world is still open to their products !
The United States has lose too, on a medium term (6-12 months). Americans will continue to buy/import Cognac or Champagne but with an increase of 15% a minima. Internal inflation will grow up to 15% in US surely in the next months (it’s mechanic). By their tariffs United states is now protected from the rest of the world. But United states, behind its tariffs or concrete walls, has become an old country with an old president and old mind voters. Their youngest workers are today deported by ICE.
And that’s why I don’t believe this old country is able to attract new industrial investors from the rest of the world, even Europe. And where these new plants will find workers ? Will they call back chicanos who are now deported ? We will soon loose the commercial advantages of the dollar too. And our financial debt will smashed our growth.
Lose-lose, you see.