Will Donald Trump damage the US consumer? In any case, this is what former European Commissioner Thierry Breton suggests.
“The United States imports $ 3,300 in goods, these $ 3,300 will be taxed. If an average rate of 20%applies, that is 600 billion. Who will pay these 600 billion? First companies when matters, then US distributors who will approve and are the consumer at the end.”
As a result, according to Thierry Breton, Donald Trump “has just created a kind of VAT, that the US consumer will pay. And that, I’m not sure he is very popular in the medium term.”
“Humiliation”
However: the US president “managed to reverse the way we were doing Commec International,” the former European Commission lamented. And this, by imposing a “new law: trade in the United States, only for the United States.”
Thierry Breton calls this way “drawing the consequences of what happened,” especially European level. “It is not glorious what happened,” he said, painfully recalling the announcement of the agreement concluded between the United States and the European Union in Scotland on Sunday, July 27.
“We feel humiliated”
“Yes, we all feel humiliated, it must be said! It would really be, I think, silly, not recognize it. Because basically, that’s what we all feel,” he said.
Thierry Breton also recalled that “since 1930, we had not had so high customs duties in the United States”, which suggests that the country led by Donald Trump is “close.”
Source: BFM TV
