Quote:
Originally Posted by texassapper
Not.
So spin how this is bad for Americans.. because I'm sure that you will.....
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Sure!
The last two columns in Trump's post look like complete fiction. The weighted average tariff rate in the UK in 2021 was 0.72%, and it's probably about the same today:
https://en.wikipedia.org/wiki/List_o...by_tariff_rate
The average effective tariff rate in the USA as of last week was about 28%:
https://budgetlab.yale.edu/research/...-april-15-2025
https://eccie.net/showpost.php?p=106...0&postcount=16
British consumers may pay a little less for ethanol, beef, cereals, fruits, etc., and American producers may sell more of those commodities to the UK. That's good for both. It will go a LITTLE way towards making up for the tens of billions American commodities producers will lose because Trump shut them out of the China market.
I remember reading an article in the Economist years ago. Four economics think tanks looked at what the effect would be of Brexit on British GDP. They showed the UK losing out under all scenarios except one -- if the country opened up to trade and cut tariffs to "0", like Singapore did, then the country was expected to do better than if it had stayed in the EU.
Trump's making a mistake. Now you can't trust that America will do what it agreed to. USMCA is the best example in trade, but no doubt we broke WTO rules and abrogated other treaties when we imposed across the board 10% tariffs, and the 25% tariffs on steel, aluminum and autos. Free markets and the rule of law are important contributors to the prosperity of a nation, and Trump is riding roughshod over both.