World-Wide Trade is a Two Way Street
Jim Inglis
Author - Breakthrough Retailing, How a bleeding orange culture can change everything!
The Latest Tariff Threat: President Donald Trump reignited trade tensions on Friday, threatening a 50% tariff on all goods sent to the United States from the European Union. The warning against the EU came just hours before the two sides were set to have trade talks. Trump last month announced a 20% tariff on most EU goods but had halved it to 10% until 8 July to allow time for talks. "Our discussions with them are going nowhere!" Trump wrote in a post on social media on Friday. He said the new tariffs would kick in on 1 June.
Well, How are the Europeans responding to America’s threats? Here is the most survey results on their propensity to buy “Made in America” products:
The majority of Europeans are considering boycotting US products. More than 60 percent of consumers want to buy more European products in response to US punitive tariffs – at least as long as the price is right. This is the result of a representative survey conducted in five European countries by market researcher Yougov on behalf of Swiss online retailer Galaxus. Between 22 April and 6 May this year, 5,263 people were surveyed in Switzerland, Germany, Austria, France and Italy. [Source DIY International.com] The highest proportion of boycott supporters (‘very likely’ and ‘somewhat likely’) are found in Austria (57 percent), followed by Italy and Switzerland (54 percent each). In Germany, 53 percent of consumers want to boycott US goods, and in France, 51 percent. The willingness to do so increases with age and is particularly high among the over-60s.
How about the Canadians? We also know that many Canadians are canceling their trips to the United States to protest U.S. policies and there is now a very strong ‘Buy Canadian’ boycott against U.S. products in Canada.
The Problem - World-wide trade is mutually beneficial to the trading partners and increases the standard of living for both exporter and importer. Surely the current growing rebellion against our American produced products cannot be good for business, reputation, respect, or our influence in this interconnected world.
Juergen Schroecker makes retailers "fit & sexy"
2moWe shouldn't just look at the damage Trump is doing to the American economy. In Europe, he is damaging the image of the USA among young people. When I was young, it was my dream to travel to America one day. I made it in 1987, a great trip. For most people, the USA was the land of dreams and was admired. When I talk to young people today, that has totally changed. When Trump says “the EU was formed to screw the United States”, every European finds that insulting and untrue. When Trump humiliates foreign heads of government on camera, it shows a despicable style. This list could go on for a long time.
Retired to travel and enjoy life
2moThere are certainly more effects from the Trump administration trade machinations than US retail. Thank you for exposing an important negative for US exporters.