Tweeting earlier this morning that "tariffs are the greatest," unstable buffoon Donald "Rump" Trump is threatening our closest allies with punishing new tariffs on their imports, in advance of a meeting tomorrow with European Commission President Jean-Claude Juncker. Rump's bluster, if carried through, will certainly provoke reciprocal tariffs on U.S. exports, from agricultural products to machinery and aircraft. The European Union countries together were the number one export market for U.S. goods in 2016, with nearly $270 billion in exports.
As with China's smart, targeted tariffs on pork and soybeans, any EU retaliatory tariffs are expected to target those products produced primarily in the red states that voted for Rump, so that's an upside. As we've noted in the past, as tariffs on U.S. exports get imposed, Trumpists are feeling it in the wallet and are starting to feel like suckers (more here) conned by their cult leader, the great businessman with several bankruptcies under his long belt.
We'll see how tomorrow's meeting goes with Mr. Juncker, but we're predicting puffed-up statements from the White (Supremacist) House about how "great" the meeting went and how we're "winning." Only to be followed in a day or two by more unhinged tweets from the Very Stable Genius about the need for more tariffs.
BONUS: Whirlpool, whose CEO loved Rump's tariffs last January, is now seeing his company's stock value whirlpooling down the drain thanks to Rump's steel and aluminum tariffs. Sad!
