EU Offers to Cut Tariffs on Cars, Changes Position, Another Trade Win for the USA?

More of these please.

 

Tariffs are taxes. They warp the economy and they cost consumers. They are almost always tools of cronyism. If the EU has capitulated on the car tariff point this is legitimate progress. Reducing tariffs down to zero is a very worthy goal. Interestingly we seem to be headed more in this direction with tariff happy Trump than we have in a long time.

Free trade is good. It is anti-crony. It is good for consumers. It is often good for domestic businesses.

(From Bloomberg)

“We are willing to bring down even our car tariffs to zero, all tariffs to zero, if the U.S. does the same,” Trade Commissioner Cecilia Malmstrom told European Parliament lawmakers Thursday at a committee meeting in Brussels. Autos were previously excluded from the discussions that focused on manufactured products bought and sold between the two markets. Removing tariffs “would be good for us economically and good for them — mutually beneficial.”