Ok, I found some numbers for us. In 2023 the US collected approximately €7 billion of tariffs on EU products compared to the EU’s €3 billion on US goods. The average tariff rate on all US products entering the EU was around 4.8%. The average tariff rate on EU goods going to the US was slightly higher. Included in the averages are the tariffs on cars. The EU applies a 10% tariff on US car imports, while the US charges just 2.5%. The US charges 25% on EU-made pick-up trucks. As far as I can tell here, there was no need for any reciprocal tariffs against the EU. Just think how you would feel if your biggest trading partner would say that you’re not acting fair and then blast you with an additional 20% and claim you’re actually taking 39%. Not nice. His numbers are incorrect and he just wants the whole world to come crawling on their knees and beg him for exemptions. That’s why people from other countries don’t like him. This whole thing might just backfire on him because the longer these tariffs stay in place, the more they are going to feed inflation.
I assume Trump's team didn't understand Europe's value added tax (VAT) of around 20%. That is in place for all goods, domestic and foreign. But even if they did view that as a tariff, it doesn't add up to 39% and it has nothing to do with trade.

Last edited by Rob B.; 04/03/25 08:37 PM.