Report calls for 30% tariffs or 20–30% euro depreciation
Finally somebody speaks reasonable economics.
I have been saying the same thing for a year now. If we just accept a trade deficit (which means we import more than we export), the logical consequence will be that the Euro depreciates while the Yuan appreciates. A consequence will be cheaper production within Europe which will balance out the trade eventually.
Can we focus on countering the USA?
They’re not wrong.
On top of the covid depreciation? That’s financing the EU with the pensions of the lower class instead of income or wealth taxes for the upper class.
25% depreciation against what? The Yuan? Why would China not compensate and do the same? Btw, the US is doing the tariff thing to depreciate the dollar. This must lead to a depreciation spiral.
