Let's not get our hopes up too much. Italy and Europe: the increase of Trump's tariffs At 15%, a level already four times higher than before Donald Trump's arrival, it's not the lesser evil compared to the threat of 30% increases because it won't last and the risk that it's just the prelude to worse is just around the corner. He explained why very well in "The Press” of yesterday Veronica DeRomanis, an economist who often goes against the grain and author of successful books such as “The free mealIn her opinion, a tariff increase to 15% "is not credible in the medium term because it will not allow the US president to simultaneously achieve the three objectives he has set himself: increasing revenue, boosting manufacturing, and rebalancing both the budget and trade deficits." This is why "every agreed figure will inevitably be revised upward." What should Europe do if this scenario were to materialize? "Move the negotiations to a long-term political level that also includes the protection of our fundamental values, starting with food and health safety and respect for privacy," and whose goal is Europe's "independence" "in defense, security, technology, trade, and energy." De Romanis acknowledges that this is an "ambitious" program but "one that cannot be postponed." To achieve it, however, it is essential that Europe moves as "one country," meaning that political integration must not remain a mere illusion. She's right. Wake up, Europe.
Trump's 15% tariffs will not last and risk being revised upwards because Donald will fail to achieve his objectives: De Romanis' analysis gives pause for thought.
If Trump's planned tariffs for Europe reach 15%, there's little to celebrate because everything suggests this is just a first step. This is according to economist Veronica De Romanis, who, however, believes Europe has the tools to address the risks. Provided it acts as a single country and knows how to do so.
