This all tariff imbecility created solely by Trump it’s atrocious, still, if EU response is to hit the main players in Nasdaq - where there are a lot of chip producers necessary for the ongoing AI revolution - we are just shooting ourselves majorly in the foot.
Surely there are much better companies for the EU to apply directed tariffs. EU absolutely has their weaknesses, but giving blunt responses (like China just did and put tariffs on everything) is not really our way. Expect EU answer to be well crafted and directed at very specific areas.
Nitpick: No, the entire Republican party is at fault here.
They willfully ignored every warning, and attacked the people giving the warnings. They promoted him, protected him in two impeachments, eventually re-elected him, and actively confirmed his cabinet of sycophants instead of requiring some adults in the Oval Office. Then they took specific steps to block anyone from challenging his "national emergency" against our neighbors, by declaring that the rest of the year simply "doesn't count" for the 15 day timer in the original legislation. [0]
Some Republican legislators may have had hard-choices for securing their own re-elections, but they still chose this route.
I would argue that China is just playing the game and EU should do too while it lasts. No time for sophistication in a street fight, this is not chess.
China has latitude in inflicting pain on its own people that the EU does not, and simply mirroring the US’s tariffs would impose significant pain and will not be the EU’s first choice. It may happen anyway, but it’s a harder decision for the EU than for China.
To me, really, the interesting thing is that _the US_ thinks it can do it. Given how annoyed the American public got about expensive eggs, I really question whether that is true; I don’t think people will sit back and go “cool, I can’t afford consumer goods now, and I’ve just lost my job, but it is all part of Dear Leader’s plan.” The idea, which Trump has actually vocalised, that the American public will tolerate pain seems totally at odds with, well, history.
> giving blunt responses (like China just did and put tariffs on everything)
It's incorrect to describe their response as "blunt". As someone who follows mainland Chinese media I can assure you that their policymakers have thoroughly prepared themselves for years. They even foresaw in 2021, after Biden took office, that Trump would become President again, unless he was assassinated. (Yes, they foresaw the assassination attempts as well; and no, they did not orchestrate these attempts -- if they did, Trump would be dead already.)
The Chinese have much more foresight than you seemingly give them credit for, unless I'm misinterpreting your words (in which case I apologise). On the other hand, European leaders have been extremely geopolitically infantile.
Surely there are much better companies for the EU to apply directed tariffs. EU absolutely has their weaknesses, but giving blunt responses (like China just did and put tariffs on everything) is not really our way. Expect EU answer to be well crafted and directed at very specific areas.