@@bigboss.800 what a load of nonsense. We would all be poorer, including China and the US. But the majority of EU trade is with other European countries.
@lawrencejeffrey9245 All of us. I think we knew Trump would bring friction, but just the idea of annexing Canada or Greenland is insane to bring up on its own...
Do everything but let bids for interoperable defense products, at scale. Do everything but conscript, supply and train infantry to interoperable NATO standards commensurate with 5%GDP of your nation. Just talk and do nothing.
@@Lawrence4000-s3k Yes, it would. But doing nothing in response will just encourage Trump to create more tariffs against Europe No one wins in a trade war, but Trump has already started it
@@Lawrence4000-s3k Well, I wouldnt mind if Europeans wouldnt buy Tesla stocks, but Volkswagen stocks instead. Thats actually a win for Europe, because it brings back capital into the European market.
Exactly. The only thing that matters to him is making the richest people richer, starting with himself. He doesn't care about Americans or the country at all.
@ don’t be an election denier. Trump won a mandate and he’s using it. His approval ratings are through the roof. 70 percent of Americans support what he’s doing.
Trump has launched a boomerang of aggressive geopolitical strategies that will inevitably backfire on US citizens. Losing the trust and support of the European Union is a grave mistake, President Trump. The European Union is a symbol of unity in diversity, and cooperation with it is essential for global well-being. It is essential to understand that our future is interconnected and that solidarity between nations is the key to addressing tomorrow's challenges. We are a strong and cohesive Europe, and together we can build a better world. I ❤ 🇪🇺
Oh no you might have to defend yourselves with your own youth and treasure. USA will have to let the world devolve into mulitipolar, thermonuclear states with generational grievances and no Uncle Sugar extending a continuum deterrence. Oh no, what will Americans do then.....
China would be a bad idea since China is helping Russia destroy Europe. Other than that its a good idea with getting more friends and better relations and opening up for trade with more countries all over the world. Maybe prioritise the countries who are under pressure from the US now and help each other.
@@Nubbe999china is not really helping Russia destroy Europe also India is the one helping Russia by selling Russian oil to usa and usa to Europe so actually is also the usa china is just playing middle man
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.
I hope someone is considering that angle. Every time I hear economists talk it;s obvious they only ever think in economic terms. Europe right now is historically weak and trying to second-guess Trump's response while Putin is nearly finished in Ukraine is a risky business.
A few hundreds against Russia’s thousands. I can barely see Putin using them if push comes to shove. But France using theirs in defense of eastern Europe risking retaliatory strike against their cities? Never.
@@Lawrence4000-s3k Europe Union is not nearly as weak as some people make it out to be. Although a war would do "wonders" for the economy, by no means would we lose a war to Russia that can barely hold it's own against Ukraine. The damage the Russo-Ukrainian war has done to Russia is immense and they will most likely never recover from that damage. So the European Union would fight a severely weakened opponent in an hypothetical future war.
Americans are paying a whole lot more for aluminium and steel. This makes it more expensive for the USA to produce all goods that use these materials: trucks, cars, aircraft, boats, ships, fridges, freezers, cookers, microwave ovens, washing machines, dishwashers, machine tools, window and door frames, structural steel used in buildings, wind turbine towers, biosafety and procedure cabinets, air handling units, chillers, air conditioning units, industrial valves, etc. It will be more difficult for Americans to make these products competitively. Manufacturing companies elsewhere in the world must seize the opportunity NOW to start replacing overpriced American imports of all kinds that use much metal. Australia, for example, has an excellent aluminium resource and should identify and target all American imports that use lots of aluminium. South Africa should do the same with steel. The USA may have been 26% of the world's economy in 2023, but that still means 74% was elsewhere. And remember this: The playground bully who beats up many kids in the playground can expect many of them to retaliate. Trump is isolating the American economy and is working hard to undermine its productivity, and medium- and long-term success. It makes sense for countries to start looking elsewhere for growth. There is massive potential in sub-Saharan Africa; just consider the impact if the Inga 3 hydro-electric scheme is built!
Just out of interest, do you think the US can continue to run these large trade deficits? If not then how else are they to rebalance trade? (everyone uses tariffs to some extent)
China is the largest steel exporter in the world in 2024. The country exported 110.72 million tons of steel to foreign markets, which is 22.7% more than in 2023. The USA is the largest importer of steel in the world in 2024. Imports of finished rolled products and semi-finished products in the country exceeded 26 million tons. The 2 main steel suppliers to the United States in 2024 are Canada (over 6 million tons), Mexico (3.1 million tons), Brazil (approximately 4.5 million tons) and South Korea (3 million tons).
you are mixing 2 different things. China is the top world steel exporter, but not into the USA! It's even in this article, so just watch it again. China export most of it's steel elsewhere: The main destination of Iron & steel exports from China are: South Korea ($6.13B), Vietnam ($5.43B), Thailand ($3.7B), Indonesia ($3.37B), and Turkey ($3.17B). The fastest growing export markets for Iron & steel of China between 2021 and 2022 were Italy ($1.3B), Turkey ($1.19B), and Saudi Arabia ($1.07B).
I don't understand. To bring manufacturing back, shouldn't they raise tariff on final products? Why tariffs on raw materials??? I can't wrap my head around.
The thought is - most likely - to drive up the demand for American produced steel and aluminum, which would strengthen American production. But there's two problems with that. 1. American suppliers would have to find ways to increase production to meet those demands, which doesn't just happen overnight. 2. It's quite likely that American producers will raise their prices on steel and aluminum to be only just below the final cost of importing those products abroad, meaning that the price will be driven up no matter what. And that of course will then also affect any American product that relies on steel and aluminum, making those more expensive too.
. How does someone manufacture a final product? It's already manufactured. Manufacturing requires materials to make a final product. To get technical, steel is not a raw material. Iron Ore is a raw material.
Trump wants steel production back to US as well. He mentioned in one of his campaign that, USA must have strong domestic steel production. When war happens, we need produce own steel to supply military production, instead of relying other countries to sell to us.
Logic isn’t really Trump’s thing. Although the tariffs are there mainly for a few other things than to “make deals”: Get income from the tax cuts. Initiating a transfer to a 0% income tax and high (20-25%) sales tax system, tariffs being the only tax Trump himself can implement. For the transfer to a system where the executive branch has its own treasury chest that he calls a ”sovereign wealth fund”, and that the POTUS can use without asking Congress for money. But damn, now I will have to cut my consumption of peanut butter that I picked up when living in the US. Italian Nutella is too sweet and too much ”candy” for me.
When will the ECB, the EU and EU Member States demand the REPATRIATION of Gold Reserves from the USA & UK? According to US Law, isn't posession 9/10ths of the law? Is the US Dollar, as Global Reserve Currency, a US entitlement or a priviledge granted by the world that can just as easily be revoked?
1,000 ain’t stopping anyone from buying cars 😂 peanut butter, motorcycles etc etc we Americans blow money like it’s nothing we’ll be good. Trump keep doing what you doing!
@@shootdasmm Good Luck with that. A monthly avarage salary in China are around 600 us dollars vs in US a avarge monthly salary are around 5000 us dollars. You get 8 workers in China for the price of 1 worker in USA. Dont think your math adds up, unless you either increase all prices in USA with 200-300% or dump us dollar value with 70-80%.
The Americans do not need the agreement of the British to have no US tariffs on imports from GB and northern ports in Ireland following the same agreement the EU and UK made with the EU protocol and EU border within the UK designed to exclude the United States of America and Commonwealth of Nations from UK and GB trade agreements in 2019,
Why should this hurt Germany? Germany is a net importer of steel and aluminum as well. Only some really spezialied sorts of steel and aluminum are exported. Preventing tariffs while selling those through other countries does not work with something insiders know that there are anyway less than a handful producers on the planet.
@@celebvoncelebrus4429 But he has already reached a more favorable treatment with Trump, and Hungary is already different from other EU countries. It is very likely that Hungary will vote against the EU when it votes to counter Trump's tariffs.
@@ylangylang6198 Most likely not, Hungary IS the car manufacturer of Europe, so he cant strike a good enough deal with Trump, or the whole tarriffing would simply become pointless, since most of the european cars would reach US markets anyway.
Did Musk asked our permission to fly his satellites above European territory? I think he should pay tribute if he wants to continue doing that, otherwise we will have noi choice but to defend European airspace from his intrusions...
If Trump really wants the United States to restart its own steel industry, rather than switching imports from one country to another, then imposing high tariffs on all countries around the world is the only option.
i don’t know why this book is so hard to find, but after finally getting Vibrations of Manifestation by Alex Lane, i get why they don’t want this out there. it breaks down exactly why most people stay stuck, and once you see it, you can’t unsee it. since reading it, my whole life has shifted. the secrets inside are worth the effort.
The EU has a 10 percent tariff on US cars and the US has a 2 percent tariff on EU cars I find it funny when we finally want to stop getting ripped off everybody loses their mind.
@@HistoryBuff2022 That tariff covers nearly 80% of new passenger vehicle sales in the US. It was introduced in 1964. Why is America ripping off Europe?
Who does this News-speaker think he is? His job is to be a journalist interviewing analysts and politicians and not judging that Europe's countermeasures are "fair". Whatever happened to impartial reporting. DW is turning into a biased agency / advocate of the EU!
Then the UK just let the bully win. Not a good look in a world that drastically needs leaders to stand up and unite against Trump. At least we now know who we can’t count on.
What tariffs do the EU impose on goods being inported from the USA and how long have these tariffs been in place? Tariffs are a two-way street but the EU don't seem to like it when they are being imposed on them by another country. The answer by the way for example on American cars by the way is 10% basic, plus VAT - so about 30% tariff.
VAT is not tariff, it's a tax imposed on all goods and services sold in EU, wether they are from EU or elsewhere. VAT applies without discrimination on all goods and services, so it can be considered a tariff, which aims specifically goods from another country.
@@estebandit0 So, you say it's not a tariff and then say it can be considered a tariff? Which one is it? Either way, VAT is not applied without discrimination as there are reductions or exemptions for electric cars, and that makes it unfair.
it doesn't aim specifically electric cars from a country. Tariffs are imposed on a product originating from another country, because it comes from that country. VAT applies on every product it aims, wherever it comes from. Sorry if it is not clear, English is not my first (nor my second) language
@@tonig2757 VAT is put on all goods even home made and imported goods while tariffs are only put on imported goods. You clearly dont know what VAT are but what to expect from MAGAs. You dont even know where on the map Canada are.
many commenters here are speaking about trump's tariffs as if they are happening in a vacuum. the most popular argument is that prices will increase for american consumers. the problem with this argument is that it ignores the fact that trump's next move will be to abolish federal income tax in the united states. the republican majority in congress will pass it into law without question.
@@thegreatdane3627 it's already in motion. the IRS has been ordered into a hiring freeze and they are likely to be dismantled in the coming years. buddy carter of georgia has tabled draft legislation in congress, proposing a flat consumption tax, simplifying the system and removing the need for a revenue service. democrats won't have enough votes to block such a move.
@@marvFX01 the total value of imports in 2023 was 3,8 trillion dollars. Federal spending was 6,2 trillion dollars. Even if the US could cut the federal budget in half, you would still need 100% tariffs to cover it. But 100% tariffs would seriously reduce the amount of imports, so it is just cannot be done that way.
@@thegreatdane3627 thus, the consumption tax... americans won't stop buying far too many goods and services... it's in their nature. always will be.... as for the middle class man who can no longer afford to consume, he will keep his entire salary.
Retaliation should be by EXPORT TARIFFS on goods being exported to the USA. The US consumers will still feel the pain, as intended, exporters will still feel some pain, which is unavoidable, BUT the tariff revenue goes to the exporter's government, instead of the US government. Native governments get extra revenue, which they all need to support government social services. The USA loses, native governments and the receivers of social services WIN... and about time!
The steel brought to Germany for weapon enterprises in WW2, Europe does not forget the freedom brought by 22 Bilion Russians casualities. Not the Americans, English and some other nationalitys at the end of WW2
@@misterfunnybones ~20 million citizens of the SU. Not just Russians. The main war action was in Belarus, Ukraine and the Baltic States. Not in Russia itself. Is it the Eastern front? Or the Western front, as seen from Russia? Those numbers include the wars against Finland and Poland and the "costs" of Russification of the newly acquired areas-thus, all losses during WW2. The whole number is disputed, but it is significantly higher than the casualties inflicted by the Germans and their allies (less disputed but regardless an insanely high number).
You defend the former economic situation like you’re clergy. Economic liberalism is like a religion now a days. Even one of the commentators talked like there is no reason for US to impose tariffs. Come on be more serious. This is good old Kenesian Economic Policy, any tariff’s aims are less trade deficit and more jobs in the country’s soil.
ever notice how some books just disappear? Vibrations of Manifestation by Alex Lane isn’t easy to find, and now i understand why. the things it reveals about energy and attraction? insane. i thought i was just “unlucky” until i applied what it teaches. within weeks, my finances flipped, and i stopped chasing things-now they come to me
This might not be popular but what exactly is wrong with a country that has a persistently high trade deficit in imposing tariffs to reduce imports? Can the US run import deficits forever?
1. Chinese steel might be shipped to other countries before being sent to the U.S. through Canada or Mexico. This can make it more difficult to track the origin of the steel and enforce trade regulations. 2.Nippon Steel's potential involvement with US Steel (Trump's idea) has the possibility to enhance the efficiency of the American steelmakers.
Canada exports 6,500,000 tons of steel, Canada imports 8,500,000 tons of steel. Canada will just have to us it's own steel instead of purchasing USA steel. Last time Trump went down this road he created 8,400 additional steel jobs at a cost $650,000.00 per job, and USA manufacturing lost 75,000 jobs. MAPA MAKE AMERICA POOR AGAIN
Not sure about that. Let's take a look at AI realm as an example. While the intention of creating AI is to lower the cost of literally every production of things, those who use this technology should have been richer by now as they spend less money to pay workers. Does it happen? All I see is stagflation everywhere. How did we get here? 🤦♀️
EU have stronger economy than USA and we are 740 million people vs the 350 million that lives in USA. So the market in Europe is also bigger than in US.
@@TriAmpMyFi I think you are the one confused. @analog said there is a shortage of olive oil. The US doesn't import that much because of that. ( I don't know if that is true)
@@rickmoore3730 Ai generated answer.... The United States imported approximately 390,534 metric tons of olive oil in the 2020/21 crop year, making it one of the largest importers globally. In terms of value, the U.S. imported about $1.76 billion worth of pure olive oil in 2022
It’s all simple, free trade should be free trade. You don’t take our cars we won’t take yours. Tariff our products we will tariff yours at the same rate. We don’t need you. We should pull out of nato too.
Fair trade deals is reasonable,...Don't see what benefit there'd be to the US leaving NATO, beyond whichever endless false MAGA tropes, US dominating global arms exports has its backbone in NATO, countries buy F-35 because of NATO, or else they'd (Europe in particular) would've invested more into domestic products or chosen alternatives, obviously the US would remain to have some global arms sales, but if it'd be half or less than it's today than you'd have to argue why really, if hundreds of $billions in revenue doesn't matter than why's that, I guess it's part of the MAGA narrative that the US finance NATO, which doesn't make sense, US budget finance the US military, there's no "financing NATO" (excluding "miniscule" arrangements, bureaucracy w/e, which the US covers some 15% of reportedly)
Don't worry people President Trump and Elon Musk will fix everything. Trump has created a political dynasty like we've never seen before. Trump has the confidence and courage of a mountain lion. Its truly incredible what president Trump has overcome. They should build a huge statue of trump on the front lawn of the white house. president Trump's face should be the new face of the hundred dollar bill 💵. We love you President Trump ❤❤❤❤❤❤ Trump is a living breathing God.🙏🙏🙏🙏🙏God saved trump so that trump can save us ❤❤❤
TRUMP has over 70% support, the EU must trade on a level field, If not Tariffs. Put 100% on French cheese and Wine to start. Meanwhile Canada ripps the USA of 1 TRILLION every 4 years.
Nice try Boris. Your % so far off as to make you an obvious bot. And Canada does not rip the US off. Try harder if you want to collect your bag of rotten potatoes.
A blanket Tariff is not a good idea, yet look at USA Republican states and just Tariff those State's goods. The USA congress has elections in just 20 months. Hit these states hard and Trump loses control of the government. Trump's Tariffs are done without forethought of the expense to the American people. Canada exports 6,500,000 tons of steel, Canada imports 8,500,000 tons of steel. Canada will just have to us it's own steel instead of purchasing USA steel. Last time Trump went down this road he created 8,400 additional steel jobs at a cost $650,000.00 per job, and USA manufacturing lost 75,000 jobs. MAPA MAKE AMERICA POOR AGAIN
The EU should tax all revenue generated by foreign owned Social media, search engine and ecommerce companies
@@agritech802 that would be great but how could that be done.
That money doesn't circulate through the EU...
The US has a trade surplus with the EU when it comes to services. So that should be the obvious target for the EU.
Especially financial services.
Europe will collapse without trade with USA and China
@@bigboss.800 what a load of nonsense. We would all be poorer, including China and the US. But the majority of EU trade is with other European countries.
Canada stood with Europe in 1914 and 1939 and we will stand with our European brothers now.
Good luck on this journey, God bless you.
I hope that the good thing from this is a closer Canada & Europe 🇨🇦 🇪🇺
@@karliskokorevics6902 I think we feel stabbed in the back. I so hope this backfires in Trump's face.
@@Sh1neful Please join us!
@lawrencejeffrey9245 All of us. I think we knew Trump would bring friction, but just the idea of annexing Canada or Greenland is insane to bring up on its own...
All these countries should impose tariffs on American big tech companies and the whole MAGA circus will crumble!
But wouldn't that just be a tax on European consumers? Why should I pay more just to counter-balance the loss to exporters? That's their hard luck.
Do everything but let bids for interoperable defense products, at scale. Do everything but conscript, supply and train infantry to interoperable NATO standards commensurate with 5%GDP of your nation. Just talk and do nothing.
@@Lawrence4000-s3k Yes, it would. But doing nothing in response will just encourage Trump to create more tariffs against Europe
No one wins in a trade war, but Trump has already started it
@@Lawrence4000-s3k Well, I wouldnt mind if Europeans wouldnt buy Tesla stocks, but Volkswagen stocks instead. Thats actually a win for Europe, because it brings back capital into the European market.
@@Lawrence4000-s3kwhy would you pay😂. And why would Europeans lose their jobs because of USA tariffs?
Alienating allies while imposing higher prices on Americans…The Art of the Deal
Exactly. The only thing that matters to him is making the richest people richer, starting with himself. He doesn't care about Americans or the country at all.
Pretty much.
Now it is called 'art of steal'.
Cry me a river. Evidently it's going to work & harm the EU if you're whining about it.
which school did trump go to? 🫡
One man...
The arrogance and hubris of one man is causing all of this. And it's the people's fault for choosing him. This will be a very good lesson.
Hahaha
They will understand nothing
Not all American people voted for the Felon-In-Chief. 75 million voted for Kamala. We stand with EU & Canada.
@ don’t be an election denier. Trump won a mandate and he’s using it. His approval ratings are through the roof. 70 percent of Americans support what he’s doing.
Ha Ha cry harder.
Let's go Europe, how about you cease to trade in Dollars, leave America's debt to America!
They will never do that to their boss
He might actually unite the world against them and their country.
Thanos infinity war ahh boss
🇦🇺🤝🌍🌎🌏
lol they think Trump is playing 4d chess, he's just a bully.
100% tariff on Tesla
Lol 😂 this comment was paid by usaid
Ban Tesla and mc donalds
@@ziko-freeman Yes ban it, we don't want this freaking garbage here either.
Its not really needed, Tesla is already in a nodedive in Europe. Their sales completely collapsed, since the Roman thing.
100% tariffs on BMW that is firing all the workers
Trump has launched a boomerang of aggressive geopolitical strategies that will inevitably backfire on US citizens. Losing the trust and support of the European Union is a grave mistake, President Trump. The European Union is a symbol of unity in diversity, and cooperation with it is essential for global well-being. It is essential to understand that our future is interconnected and that solidarity between nations is the key to addressing tomorrow's challenges. We are a strong and cohesive Europe, and together we can build a better world. I ❤ 🇪🇺
Nope
Oh no you might have to defend yourselves with your own youth and treasure. USA will have to let the world devolve into mulitipolar, thermonuclear states with generational grievances and no Uncle Sugar extending a continuum deterrence. Oh no, what will Americans do then.....
The European Commission just imposed a 45% Tariff on imported Chinese Electric Vehicles so protectionism only goes one way with the EU.
Hypocrisy is the middle name of the EU.
@@bojanm986 hi again!
Lovely to see you here also!
You really dislike the EU, don't you?
@@TheAllMightyGodofCod not hate. Just some facts.
Boycot every US products. From coca-cola to the simplest thing.
China: Come to daddy.
Canada is packed full of all kinds of resources. They should start using them.
Like what?
US: if Von Der Leyen dares to retaliate I will revoke her family’s Us citizenship.
As a man from Europe ,I think EU should export to emerging markets like China, Brazil and India.
Usa should sanction germany
China would be a bad idea since China is helping Russia destroy Europe. Other than that its a good idea with getting more friends and better relations and opening up for trade with more countries all over the world. Maybe prioritise the countries who are under pressure from the US now and help each other.
The problem is they all want to export to Europe, not the other way around
@@Nubbe999china is not really helping Russia destroy Europe also India is the one helping Russia by selling Russian oil to usa and usa to Europe so actually is also the usa china is just playing middle man
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.
Wow! Your copy & paste skills are amazing!
@@vornamenachname1572 At least it isn't a CRINKbot anti-American copy pasta.
Good, then I think Salesforce should pay tarriffs...
They should add taxes to Facebook google and twitter ads
As a man from Europe, i think UK and EU should stop giving aid to USA.
Aid to USA lol 😆😆
😂😂😂😂😂😂😂😂😂@@manasmishra8945
So obtuse these botskis.
Trump: EU dares to counter offensive against my tariff? Okey, I will call Putin to have a drink with him.
I hope someone is considering that angle. Every time I hear economists talk it;s obvious they only ever think in economic terms. Europe right now is historically weak and trying to second-guess Trump's response while Putin is nearly finished in Ukraine is a risky business.
@@Lawrence4000-s3k Dont worry buddy, we have our own nuclear weapons....
A few hundreds against Russia’s thousands. I can barely see Putin using them if push comes to shove. But France using theirs in defense of eastern Europe risking retaliatory strike against their cities? Never.
@@Lawrence4000-s3k Europe Union is not nearly as weak as some people make it out to be. Although a war would do "wonders" for the economy, by no means would we lose a war to Russia that can barely hold it's own against Ukraine.
The damage the Russo-Ukrainian war has done to Russia is immense and they will most likely never recover from that damage. So the European Union would fight a severely weakened opponent in an hypothetical future war.
Americans are paying a whole lot more for aluminium and steel. This makes it more expensive for the USA to produce all goods that use these materials: trucks, cars, aircraft, boats, ships, fridges, freezers, cookers, microwave ovens, washing machines, dishwashers, machine tools, window and door frames, structural steel used in buildings, wind turbine towers, biosafety and procedure cabinets, air handling units, chillers, air conditioning units, industrial valves, etc. It will be more difficult for Americans to make these products competitively. Manufacturing companies elsewhere in the world must seize the opportunity NOW to start replacing overpriced American imports of all kinds that use much metal. Australia, for example, has an excellent aluminium resource and should identify and target all American imports that use lots of aluminium. South Africa should do the same with steel. The USA may have been 26% of the world's economy in 2023, but that still means 74% was elsewhere. And remember this: The playground bully who beats up many kids in the playground can expect many of them to retaliate. Trump is isolating the American economy and is working hard to undermine its productivity, and medium- and long-term success. It makes sense for countries to start looking elsewhere for growth. There is massive potential in sub-Saharan Africa; just consider the impact if the Inga 3 hydro-electric scheme is built!
Just out of interest, do you think the US can continue to run these large trade deficits? If not then how else are they to rebalance trade? (everyone uses tariffs to some extent)
This. Australia was given no exemption
China is the largest steel exporter in the world in 2024. The country exported 110.72 million tons of steel to foreign markets, which is 22.7% more than in 2023.
The USA is the largest importer of steel in the world in 2024. Imports of finished rolled products and semi-finished products in the country exceeded 26 million tons. The 2
main steel suppliers to the United States in 2024 are Canada (over 6 million tons), Mexico (3.1 million tons), Brazil (approximately 4.5 million tons) and South Korea (3 million tons).
you are mixing 2 different things. China is the top world steel exporter, but not into the USA! It's even in this article, so just watch it again.
China export most of it's steel elsewhere: The main destination of Iron & steel exports from China are: South Korea ($6.13B), Vietnam ($5.43B), Thailand ($3.7B), Indonesia ($3.37B), and Turkey ($3.17B). The fastest growing export markets for Iron & steel of China between 2021 and 2022 were Italy ($1.3B), Turkey ($1.19B), and Saudi Arabia ($1.07B).
@@celebvoncelebrus4429I know this is so, for reflection, I wrote
I don't understand. To bring manufacturing back, shouldn't they raise tariff on final products? Why tariffs on raw materials??? I can't wrap my head around.
The thought is - most likely - to drive up the demand for American produced steel and aluminum, which would strengthen American production. But there's two problems with that. 1. American suppliers would have to find ways to increase production to meet those demands, which doesn't just happen overnight.
2. It's quite likely that American producers will raise their prices on steel and aluminum to be only just below the final cost of importing those products abroad, meaning that the price will be driven up no matter what. And that of course will then also affect any American product that relies on steel and aluminum, making those more expensive too.
My country of the US is led by a game show host who doesn't read and this is a reflection of American society.
. How does someone manufacture a final product? It's already manufactured. Manufacturing requires materials to make a final product.
To get technical, steel is not a raw material. Iron Ore is a raw material.
Trump wants steel production back to US as well. He mentioned in one of his campaign that, USA must have strong domestic steel production. When war happens, we need produce own steel to supply military production, instead of relying other countries to sell to us.
Logic isn’t really Trump’s thing. Although the tariffs are there mainly for a few other things than to “make deals”:
Get income from the tax cuts.
Initiating a transfer to a 0% income tax and high (20-25%) sales tax system, tariffs being the only tax Trump himself can implement.
For the transfer to a system where the executive branch has its own treasury chest that he calls a ”sovereign wealth fund”, and that the POTUS can use without asking Congress for money.
But damn, now I will have to cut my consumption of peanut butter that I picked up when living in the US. Italian Nutella is too sweet and too much ”candy” for me.
Trump voters will learn the hard way, but I'm not sure they smart enough to even learn the lesson.
Democrats are playing Checkers whilst Trump is playing Chess.
When will the ECB, the EU and EU Member States demand the REPATRIATION of Gold Reserves from the USA & UK?
According to US Law, isn't posession 9/10ths of the law?
Is the US Dollar, as Global Reserve Currency, a US entitlement or a priviledge granted by the world that can just as easily be revoked?
Actually we'll all be poorer with the
Trump scar tactics!
We are so hated in our world!
And of course
never forget Israel!
3:25 jeans, motorcycles and peanut butter. 😂
why are you laughing? Goods are goods... are you a 9yr old?
Who even buys american bikes?
1,000 ain’t stopping anyone from buying cars 😂 peanut butter, motorcycles etc etc we Americans blow money like it’s nothing we’ll be good. Trump keep doing what you doing!
the European Union must stop the current rules surrounding the sale of emission allowances for cars. Then the Musk problem has already been solved.
Donald Trump's next book: The Art of the Steal... or maybe the Art of the Unreal.
"Firm" is the opposite of "EU"
Basically the tariffs are counterproductive whether it's US, EU , China or any other country. Tariff's will effect the countries concerned negatively.
Tariff = Duty = Tax = Levy = Toll = Excise
Companies will just manufacture in America to keep cost down which works out when south East Sea goes into war and can’t trade there
@@shootdasmm Good Luck with that. A monthly avarage salary in China are around 600 us dollars vs in US a avarge monthly salary are around 5000 us dollars. You get 8 workers in China for the price of 1 worker in USA. Dont think your math adds up, unless you either increase all prices in USA with 200-300% or dump us dollar value with 70-80%.
= INFLATION.
The Americans do not need the agreement of the British to have no US tariffs on imports from GB and northern ports in Ireland following the same agreement the EU and UK made with the EU protocol and EU border within the UK designed to exclude the United States of America and Commonwealth of Nations from UK and GB trade agreements in 2019,
It is a burden so heavy that us can not provide free bus any longer
Trump's tariffs on Steel & Aluminum prevent countries selling into Canada & Mexico to avoid duties, which hurts Germany.
Why should this hurt Germany? Germany is a net importer of steel and aluminum as well. Only some really spezialied sorts of steel and aluminum are exported. Preventing tariffs while selling those through other countries does not work with something insiders know that there are anyway less than a handful producers on the planet.
What’s with DW’s bots all being blondes and having accounts that are a few hours old?
EU were like China this China bad now the China talk is over 😂😂😂😂
Does anyone want to tell Trumpers that tax cuts for McDonald's rich friends will be paid by them.😂
The EU is just a loose union. As long as the Orban government in Hungary exists, the EU will not be able to make any "firm response".
Rubbisch. Orban has zero to do with this.
Orban is doing what it suits him. He will not support USA against his (and Hungary) interests. And definitely he won't support a losing side.
@@celebvoncelebrus4429 But he has already reached a more favorable treatment with Trump, and Hungary is already different from other EU countries. It is very likely that Hungary will vote against the EU when it votes to counter Trump's tariffs.
@@ylangylang6198 Most likely not, Hungary IS the car manufacturer of Europe, so he cant strike a good enough deal with Trump, or the whole tarriffing would simply become pointless, since most of the european cars would reach US markets anyway.
The EU should ratify CETA asap and form a trade agreement with Asia. The more you rely on the two big boys, the more you fall under their sway.
" Gamble ? Pay off ? " it's not funny - get serious.
Did Musk asked our permission to fly his satellites above European territory? I think he should pay tribute if he wants to continue doing that, otherwise we will have noi choice but to defend European airspace from his intrusions...
Australia has been given 25% t-riffs too.
Sehr interessantes Thema! Ich freue mich schon auf neue Videos von Ihnen! 😚🍒
After Trump imposes tariffs then Russia should sanction EU as well
I thought china and india are largest steel producing countries.
And china is largest steel exporter to United States
US imposed tariffs on china steel and aluminium long ago.
If Trump really wants the United States to restart its own steel industry, rather than switching imports from one country to another, then imposing high tariffs on all countries around the world is the only option.
He could just subsidize the domestic steel industry. No need for a trade war with everyone.
Why not restart the jeans industry?
100000% tariffs on Tesla
10000000%
EU depends on US technologies on both civilian and military level, so you better behave.
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100% tariffs on BMW
Did Hoover's?
The EU has a 10 percent tariff on US cars and the US has a 2 percent tariff on EU cars I find it funny when we finally want to stop getting ripped off everybody loses their mind.
And what is the tariff on exporting a pickup from Europe to America? 25%. Why does America rip off Europe?
@ the EU has significantly higher tariffs overall.
@@HistoryBuff2022 That tariff covers nearly 80% of new passenger vehicle sales in the US. It was introduced in 1964. Why is America ripping off Europe?
@@nigelgarrett7970 sorry unfortunately I don’t understand your point. My point is America pays Europe more in tariffs that Europe pays America
Europe and America make unreliable cars , learn from Japan and korea
Too morosely funny. His efforts are to make government swindle down to just him and his handpicked successor in his kingdom…
😔
🖖🏼
❣️
Who does this News-speaker think he is? His job is to be a journalist interviewing analysts and politicians and not judging that Europe's countermeasures are "fair". Whatever happened to impartial reporting. DW is turning into a biased agency / advocate of the EU!
No, way jose...it worked in the 1800s but not 2025.....
Is it me or does Phil Gayle look like he is going to cry? His glasses reflection make him look sad😅😅😅
Well done Trump
The UK just said it will just pay the costs and won't do anything in return....
Then the UK just let the bully win. Not a good look in a world that drastically needs leaders to stand up and unite against Trump. At least we now know who we can’t count on.
EU currently has 10% tariffs on USA… USA only has a 2%…..has is this level of
What tariffs do the EU impose on goods being inported from the USA and how long have these tariffs been in place? Tariffs are a two-way street but the EU don't seem to like it when they are being imposed on them by another country.
The answer by the way for example on American cars by the way is 10% basic, plus VAT - so about 30% tariff.
Everyone gets VAT, internal or external. So try exporting a pickup from Europe to America, then you'll complain about tariffs.
VAT is not tariff, it's a tax imposed on all goods and services sold in EU, wether they are from EU or elsewhere. VAT applies without discrimination on all goods and services, so it can be considered a tariff, which aims specifically goods from another country.
@@estebandit0 So, you say it's not a tariff and then say it can be considered a tariff? Which one is it?
Either way, VAT is not applied without discrimination as there are reductions or exemptions for electric cars, and that makes it unfair.
it doesn't aim specifically electric cars from a country. Tariffs are imposed on a product originating from another country, because it comes from that country. VAT applies on every product it aims, wherever it comes from.
Sorry if it is not clear, English is not my first (nor my second) language
@@tonig2757 VAT is put on all goods even home made and imported goods while tariffs are only put on imported goods. You clearly dont know what VAT are but what to expect from MAGAs. You dont even know where on the map Canada are.
many commenters here are speaking about trump's tariffs as if they are happening in a vacuum. the most popular argument is that prices will increase for american consumers. the problem with this argument is that it ignores the fact that trump's next move will be to abolish federal income tax in the united states. the republican majority in congress will pass it into law without question.
that is simply impossible to do. No really, do the math.
@@thegreatdane3627 it's already in motion. the IRS has been ordered into a hiring freeze and they are likely to be dismantled in the coming years. buddy carter of georgia has tabled draft legislation in congress, proposing a flat consumption tax, simplifying the system and removing the need for a revenue service. democrats won't have enough votes to block such a move.
@@marvFX01 the total value of imports in 2023 was 3,8 trillion dollars. Federal spending was 6,2 trillion dollars.
Even if the US could cut the federal budget in half, you would still need 100% tariffs to cover it.
But 100% tariffs would seriously reduce the amount of imports, so it is just cannot be done that way.
@@thegreatdane3627 thus, the consumption tax... americans won't stop buying far too many goods and services... it's in their nature. always will be.... as for the middle class man who can no longer afford to consume, he will keep his entire salary.
@@marvFX01 so goods will be even more expensive for those that are already struggling, while the rich become richer?
Retaliation should be by EXPORT TARIFFS on goods being exported to the USA. The US consumers will still feel the pain, as intended, exporters will still feel some pain, which is unavoidable, BUT the tariff revenue goes to the exporter's government, instead of the US government. Native governments get extra revenue, which they all need to support government social services. The USA loses, native governments and the receivers of social services WIN... and about time!
The steel brought to Germany for weapon enterprises in WW2, Europe does not forget the freedom brought by 22 Bilion Russians casualities. Not the Americans, English and some other nationalitys at the end of WW2
Yeah, you may want to adjust that number to millions but other than that 👍
People forget about the Eastern front. But it was ~20 million Russians, not billions.
Some people have mathematical problems with all these billionaires and coming trillionairs...
@@misterfunnybones ~20 million citizens of the SU. Not just Russians. The main war action was in Belarus, Ukraine and the Baltic States. Not in Russia itself.
Is it the Eastern front? Or the Western front, as seen from Russia? Those numbers include the wars against Finland and Poland and the "costs" of Russification of the newly acquired areas-thus, all losses during WW2. The whole number is disputed, but it is significantly higher than the casualties inflicted by the Germans and their allies (less disputed but regardless an insanely high number).
You defend the former economic situation like you’re clergy. Economic liberalism is like a religion now a days. Even one of the commentators talked like there is no reason for US to impose tariffs. Come on be more serious. This is good old Kenesian Economic Policy, any tariff’s aims are less trade deficit and more jobs in the country’s soil.
When you dont stands for what is wrong, you got a slap too one day from the same EVIL.
I payed off before it will pay off again ..
8:20 We know the goal of these tarrifs are in the long term...
Australia has NOT got exemptions.
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This might not be popular but what exactly is wrong with a country that has a persistently high trade deficit in imposing tariffs to reduce imports?
Can the US run import deficits forever?
The trade "deficit" with Canada disappears if oil is removed from the equation. Blame the US population: they consume more than they produce & export.
Nope, it won't
The EU is going to be renamed America.😂
Stop drinking and commenting 🙄
Aluminium!!
No, yes, Maybe. Who the f knows 🤔
1. Chinese steel might be shipped to other countries before being sent to the U.S. through Canada or Mexico. This can make it more difficult to track the origin of the steel and enforce trade regulations.
2.Nippon Steel's potential involvement with US Steel (Trump's idea) has the possibility to enhance the efficiency of the American steelmakers.
You appear to have misunderstood your #1. The 25% tariff is on ALL steel imports regardless of origin, not just Chinese steel.
@@judewarner1536 End of #1 - "This can make it more difficult to track the origin of the steel and enforce trade regulations."
Canada exports 6,500,000 tons of steel, Canada imports 8,500,000 tons of steel. Canada will just have to us it's own steel instead of purchasing USA steel. Last time Trump went down this road he created 8,400 additional steel jobs at a cost $650,000.00 per job, and USA manufacturing lost 75,000 jobs.
MAPA MAKE AMERICA POOR AGAIN
Not sure about that. Let's take a look at AI realm as an example. While the intention of creating AI is to lower the cost of literally every production of things, those who use this technology should have been richer by now as they spend less money to pay workers. Does it happen? All I see is stagflation everywhere. How did we get here? 🤦♀️
👖 jeans ?? Peanut butter 🧈 ???
EU are a bunch of 🤡 clowns. 😂
The EU will do whatever trump wants and there is nothing the eu can do about it. Trump is the boss of the world.
angry girlboss
EU have stronger economy than USA and we are 740 million people vs the 350 million that lives in USA. So the market in Europe is also bigger than in US.
Tariff on peanut butter. Take that America.
lol, & Trump will just subsidize peanut farmers or put a tariff on Olive Oil!
@@TriAmpMyFithere's barely enough olive oil production for European consumption, u don't have real olive oil in america 😂😂😂😂
@@Analog_Soul I said Trump (america) will put a tariff on (EU imported) Olive Oil. C'mon Analog get it together & pay attention.
@@TriAmpMyFi I think you are the one confused. @analog said there is a shortage of olive oil. The US doesn't import that much because of that. ( I don't know if that is true)
@@rickmoore3730 Ai generated answer....
The United States imported approximately 390,534 metric tons of olive oil in the 2020/21 crop year, making it one of the largest importers globally. In terms of value, the U.S. imported about $1.76 billion worth of pure olive oil in 2022
It’s all simple, free trade should be free trade. You don’t take our cars we won’t take yours. Tariff our products we will tariff yours at the same rate. We don’t need you. We should pull out of nato too.
Who will pay your 36 trillion debt then dear? Bezos? He will just buy a tropical island for himself and laughs you at your face...
Fair trade deals is reasonable,...Don't see what benefit there'd be to the US leaving NATO, beyond whichever endless false MAGA tropes, US dominating global arms exports has its backbone in NATO, countries buy F-35 because of NATO, or else they'd (Europe in particular) would've invested more into domestic products or chosen alternatives, obviously the US would remain to have some global arms sales, but if it'd be half or less than it's today than you'd have to argue why really, if hundreds of $billions in revenue doesn't matter than why's that, I guess it's part of the MAGA narrative that the US finance NATO, which doesn't make sense, US budget finance the US military, there's no "financing NATO" (excluding "miniscule" arrangements, bureaucracy w/e, which the US covers some 15% of reportedly)
Trump links tariffs to cold air coming across the border from Canada. Said Trump: 'They've been treating us very badly in this way for many years.'
Go trump 2025❤❤❤❤❤❤❤❤❤❤❤❤
EU trying to retaliate is like Philips or Alcatel retaliating to Nvidia 😂😂😂
25%is too small, make it 50 every servant need to obey it's master 😂😂😂. Putin will be laughing, after the US blewup nordstream
Don't worry people President Trump and Elon Musk will fix everything. Trump has created a political dynasty like we've never seen before. Trump has the confidence and courage of a mountain lion. Its truly incredible what president Trump has overcome. They should build a huge statue of trump on the front lawn of the white house. president Trump's face should be the new face of the hundred dollar bill 💵. We love you President Trump ❤❤❤❤❤❤ Trump is a living breathing God.🙏🙏🙏🙏🙏God saved trump so that trump can save us ❤❤❤
SO..... you're saying that you have already drunk the kool-aid? How is your bank account looking?
take your meds
Canada should join the european union!
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Trump spend money 💰 on humanity instead of collection in your pocket 😅
Thats why he stopped the USAID from feeding the poorest children of the world?
They are putting tariffs on their own people, why make your own steel more expensive to import 🤣 The EU doesn't make sense.
Someone will get rich. I wonder who in the world that will be? It must benefit someone in power.
As simple as. To force the production back.
TRUMP has over 70% support, the EU must trade on a level field, If not Tariffs. Put 100% on French cheese and Wine to start. Meanwhile Canada ripps the USA of 1 TRILLION every 4 years.
Nice try Boris. Your % so far off as to make you an obvious bot. And Canada does not rip the US off. Try harder if you want to collect your bag of rotten potatoes.
me when i straight up lie
USA must leave nato. Will see what Europe will say then 😂😂
Good bye
The US is not a reliable ally anymore, so i don't see any problem with that.
In a War you counter attack!
unless you can tell the difference between war and negotiation
What the US will say is the rule and the EU has to obey that.
If that was true, then why would the US need tariffs? They could just order the EU to sell less, and only buy American.
What's the point of retaliating with tariffs??
Absolutely none
That depends on whether you want re orientate all supply lines and production around America. If this happens, trade loss will be very to claw back.
It's calld "DETERRENCE" 😁
Here’s a retaliation sanctions they basically counteract any tariff’s and allows people to trade with others
A blanket Tariff is not a good idea, yet look at USA Republican states and just Tariff those State's goods. The USA congress has elections in just 20 months. Hit these states hard and Trump loses control of the government. Trump's Tariffs are done without forethought of the expense to the American people.
Canada exports 6,500,000 tons of steel, Canada imports 8,500,000 tons of steel. Canada will just have to us it's own steel instead of purchasing USA steel. Last time Trump went down this road he created 8,400 additional steel jobs at a cost $650,000.00 per job, and USA manufacturing lost 75,000 jobs.
MAPA MAKE AMERICA POOR AGAIN
I don't know what will happen. With trump in charge it's scary.
Bring it on trump . Don’t keep putting it off . Keep that big pen going .