Tariff On, Tariff Off: Trump vs. Europe, Apple Fines, and Trade Bluffs
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Tariff on, tariff off. I can’t get Mr. Miyagi out of my head with this thing. Tariff on, tariff off. It’s like Trump, but his tariffs. Okay, European Union agreed to fast track talks with the US to deescalate their trade spat. This is after there was a phone call made, I guess it was like a rom-com, right? They’ve got a little romantic comedy there going between Trump and Ursula there.
Anyway, they agreed to both fast track the negotiations and stay in close contact. The announcement marks a return to friendly relations between the president of the EU and President Trump after Trump lashed out at the EU threatening to impose 50 % tariffs on European imports from June 1st. Trump expressed frustration over slow moving talks and I get it. I understand why he’s frustrated too. Okay, I do, I do.
I don’t understand the tariff route though. I really don’t. Again, I’ve described this in terms of that Colonel in Vietnam, we need to destroy the village in order to save it. Look at it this way. Louis Vuitton. Louis Vuitton opened up a factory in Texas.
They wanted to hire, I think it was some 3000 plus workers. This is a couple of years ago. They’ve got 600.
Why do they have 600? Can’t find the workers. This is a trade. Anybody ever watch how these things are made, high quality products are made? It’s a masterclass. Yeah, give an example. Daniel Day Lewis, one of the best, in my opinion, one of the great actors of our time, actually took a sabbatical for a period.
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took a sabbatical period, didn’t act, went to Italy and learned how to make shoes, learned how to be a cobbler. have, they have Florentine shoemakers there where they, you have to go for a bunch of fittings for these shoes. Obviously very high end. We don’t have a lot of those trades here in the United States. Just don’t. Just don’t. With that being said, okay.
You know, there’s no way that they’re gonna be reassured. There’s no way Gucci bags are gonna be made here anytime soon. Just not gonna happen, okay? People, it’s part of the, I get up the whole thing. I wanna buy an Italian shoes, I wanna Italian, whatever it may be, okay? They’re not making them here. With that being said, this is where Trump is not wrong. The problem with Europe right now is the regulators.
The regulators, the European Commission constantly fining and going after our tech companies. Case in point, the latest $500 million fine against Apple. It was levied under the new Digital Markets Act. Huge penalty. But it’s not the point. Apple tried to navigate this, tried to work with the regulators there, but they were basically set up. That’s the problem. It’s a here. They’re not, you take a look at the startup money.
that actually goes to startups and venture capital in Europe. It’s dropping every single year by a great deal every single year. This is the reality, my friends, okay? Their economy is not doing well in many respects, especially when it comes to the tech side of things. And they look to punish American companies. That needs to be dealt with.
I don’t think 50 % tariffs is the way to go. They just probably, maybe a little strategy. Maybe go after some of the things that they’re sending here. Be a thorn in their side if they’re gonna be a thorn in ours. But the reality is that we just, you know, cutting off or 50 %… I knew it wasn’t gonna happen. I knew it was one of those Mr. Miyagi’s tariff on, tariff off situations. Watchdogonwallstreet.com.
