Trump wins big UE tariffs deal | Red Hot Takes - video Dailymotion

Watch Trump wins big UE tariffs deal | Red Hot Takes - New York Post on Dailymotion

Transcript

00:00It was just a few months ago that President Trump's critics were warning of a global economic

00:06apocalypse from his tariff regime. But over the weekend, President Trump struck a deal with the

00:12European nations, a 27-nation bloc. That's America's largest trading partner. And that

00:18deal comes on top of other deals, significant deals that he struck with Japan, the United

00:23Kingdom, Indonesia, the Philippines, Vietnam, and at least partially with China. These agreements

00:29should go a long way toward calming the markets and reassuring businesses that are trying

00:33to plan for the future. Meanwhile, Trump appears to be getting favorable terms for the United

00:39States. The deal with the European Union, for example, includes $1.35 trillion worth of investments

00:46and purchases of U.S. energy and military equipment. Europe will see a 15 percent tariff on goods

00:53that it sends to America, but American exports won't face any European tariffs at all. That'll

00:59give American producers a strong edge and help rebalance trade deficits and surpluses. Trump's

01:05ultimate goal, of course, is to boost America's economy, bring companies back to the United

01:10States, and end the United States' reliance on potential enemies for critical goods, things

01:16like rare-earth minerals. While economists are correct to argue that, in theory, no tariffs

01:23on anyone would be the most efficient, many countries have tariffs and they maintain tariffs

01:29on U.S. goods. And they also maintain other rules that put the United States at a disadvantage.

01:35And it's true that Trump did spark uncertainty when he first rolled out his tariff plan. He's

01:41still got a lot more to do. His Liberation Day tariffs are due to kick in on Friday for any

01:47nation that still doesn't have a deal. But clearly, his tariff plan is settling into place,

01:52and the U.S. economy seems poised to see nice benefits.