The European Union, wonderful countries who treat the U.S. very badly on trade, are complaining about the tariffs on Steel & Aluminum. If they drop their horrific barriers & tariffs on U.S. products going in, we will likewise drop ours. Big Deficit. If not, we Tax Cars etc. FAIR!
— Donald J. Trump (@realDonaldTrump) March 10, 2018
President Donald Trump is threatening the U.S closet allies, the European Union, with a retaliatory action if they decide to retaliate against the tariffs on steel and aluminum.
Sometimes, Trump rants like a schoolboy without understanding the full impact of what he tweeted from his bed.
The European economies is just recovering from the last major U.S.-initiated economic disaster that was the 2008 financial collapse caused by a regulatorily-lax Republican administration.
With Congress now chomping at to roll back the Dodd-Frank regulations enacted in the wake of the “Great Recession” at the urging of the Wall Street oligarchs not content with the massive reduction in their tax liabilities, Trump’s opening shots in this trade war has the potential to usher in yet another Republican-enabled financial debacle for the country at the same time that Congress is doing everything they can to eliminate the social safety net when people will need it most.