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  • Anyone@mander.xyzEnglish
    201·
    8 days ago

    The world’s largest trading bloc may have dodged higher tariffs, but it has also rubber stamped the US president’s new world order.

    How does the US president’s new world order look like with respect to this agenda? This EU-US trade ‘deal’ isn’t largely a deal, because it is not even legally binding, and many points are fully unclear to this point. Even the article says that (“Trump’s deals are not set in stone”) slightly contracting its own headline.

    I wrote a longer comment in another thread yesterday and don’t want to repeat here. Articles on that issue are popping up every day now, and this one among the ones which are less substantiated imho. What I miss in most of these comments is the effects on the US economy. U.S. Fed chief Powell left U.S. interest rates unchanged today - at more than twice the EU rates - arguing that U.S. inflation is too high. So these tariffs are not good for Europe, but worse for the U.S. This is one point I miss in this discussion.

    • OhNoMoreLemmy@lemmy.mlEnglish
      7·
      8 days ago

      It’s just such a dumb take from the FT.

      Trump is shooting the American economy in the foot with tariffs. Imposing reciprocal tariffs would shoot the EU economy in the foot too.

      Talking him down so the tariffs are smaller and less damage is done globally is the best possible outcome.

      Nothing is being legitimized, it’s just that America can not be stopped from fucking it’s own economy, and will have to unfuck it on it’s own later.