Still haven't seen a single soul even attempt to enlighten us all on why world tariffing USA good, but USA tariffing world bad. Why does world need better-than-parity. Why not equal and fair trade.
From what I understand this all stems from a conflict between Boeing and Airbus, which has been going on for 15+ years. Both sides were to "blame", each subsidizing their aircraft industries. Similar to the Ukraine war, this escalated to other goods. This was the mistake that each block made - escalation. practically, the vast majority of goods have had a tarriff of 1% with the aeronautical industry, and SELECTIVE items having high tarriffs.
Year Event
2004 U.S. files complaint at WTO against EU over Airbus subsidies.
2005 EU files counter-case against U.S. over Boeing subsidies.
2010–2019 WTO rules both sides gave illegal support (Airbus worse initially, but later ruled both guilty).
2019 U.S. imposes $7.5B in tariffs on EU goods.
2020 EU retaliates with $4B in tariffs on U.S. goods.
2021 Truce declared – tariffs suspended for 5 years.
today 2025 and rather then try to row back, we are seeing an escalation, this is in the belief, by Trump, that the world will fold. As I understand it, Trump wants people to buy local in order for US businesses to make profits, selling above world prices, in the US, ergo the consumer has no choice but to buy.