The greatest threat to America's national security is the profound stupidity of Trump, his administration, and his supporters.
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The US has a 2.5% tarrif on automobiles and 25% on trucks ( for now) and we have a 3% sales tax . The EU has a 10% flat tariff on automobile imports. On top of that they also have a VAT tax which varies from country to country. Bottom line it ain't fair and Trump will fix it.pic.twitter.com/46c3BHcLo9
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Tariff is a sum of consumption tax and income subsidy. That is if the import tariff has been imposed on certain products then to give a boost to the manufacturing sectors there have been production subsidy. So as well as there would be a 20% tariff on EU cars, there should be....
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a subsidy on the domestic manufacturers of cars. As by the imposition of tariff the perceived demand falls but the actual demand prevails. so to meet up the dd by changing taste bias there would be a need of subsidy within the industry. In that way there is a protection .
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My fear is that an overdoing of tariffs will lead to significant inflation.
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If you would look around the US you would notice that a lot of the European car makers do have their plants in the US!!
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Ruttrow!
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