Finance Minister Markus Marterbauer does not have to be afraid of the new customs announcements by Donald Trump of 30 percent: “The endangered 30 percent customs network is a huge tightening. But it can be something else tomorrow if the US president has slept badly.”
According to Marterbauer, the Americans would have a lot to lose if they wanted to start a trade or customs war with Europe. The costs would certainly not be in Europe, but also in the US. “
As far as the situation is concerned, the Minister of Finance is “incredibly happy that Austria is a member of the EU, especially in customs questions. Imagine that Austria should only negotiate with the United States. We have no chance against their superiority.”
EU does a great job “
The EU is doing great. “We are one of the largest markets in the world and there is willingness to negotiate and pragmatism of the EU.”
According to De Marterbauer, the biggest problem of higher rates is not the cost burden, but the problem “is mainly due to widespread uncertainty. Once it is ten percent and once 30 percent, this means uncertainty. The effect: that dampens the willingness to invest.”
Customs of August 1 would ‘dampen the economy with certainty, but I do not believe that we should again fall into depression scenarios. Europe must think about its own strengths. 80 percent of all goods and services generated in Europe are consumed in Europe, the most important trading partner in Europe is Europe!
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
