Summary
Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.
The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.
Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.
Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.
I hope the EU reacts with something non-tariffy. Like forbidding US online platforms to serve ads and collect personal data, with severe punishments if they still do.
I recently read an article that suggested the best retaliation would be to stop enforcing US intellectual property in the EU. One of the biggest exports they have is media, if we would stop enforcing their copyright it would cost them a lot of money.
You don’t even have to go that far. Just adopt sane copyright laws, like copyright only lasting the life of the artist.
Thats still too long imo. Patents are 20 years, so should every IP protection.
If it’s good enough for inventors, it’s good enough for musicians, writters and software developers.
Yeah, but think about the grandchildren of the CEO who bought that IP from the artist‽
Do you want them to
starvehave to work for a living?Official EU website hosting American-made media for a nominal fee. Can’t tariff data!
I think a lot of that kind of stuff is going to happen. I don’t think other countries are insulted, as much as they find it ridiculous, and to be ridiculed, I think they’re going to do some inventive chaos. I think we need to be building some world bingo cards, and I’ll bet we won’t guess all the (hopefully hilarious) petty revenges about to snowball.
Would also save the EU an enormous amount in monitoring and enforcement
Yes that would be amazing and a great stimulant for EU companies to start developing a competing platform of it’s own (we have BeReal, Dailymotion, Medal and Dumpert, but they aren’t very big AFAIK)
Having Non-US platforms would be nice, yes, But leaving the US-based ones without ad revenue and a shit-ton of users would be nice, too.
Why not both?
or something ultra specific that is super easy to source from any other country, to exclusively hurt the american businesses
That was part of what went into how Canada chose the targets of out first rounds of counter-tariffs.
Product categories that we also make here, or can easily get elsewhere or can comfortably do without for an extended period of time.
That combined with a consumer led boycott of anything "made in the USA " and even staunch Republicans like Mitch McConnell are starting to push back against Trump.
We can only hope.