Poland's Baranowski: EU-U.S. trade deal is the right deal for this moment
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New York Post
an hour ago
- New York Post
Trump's EU trade deal win: Letters to the Editor — Aug. 4, 2025
The Issue: President Trump strikes a landmark EU trade deal before his new tariffs take effect. President Trump and his team keep on striking massive deals ('EU got a deal!,' July 28). How long can the biased media and Democrats not give credit where credit is due? Advertisement Now it's time for Federal Reserve chief Jerome Powell to cut interest rates and really get the economy moving. Bob Robustelli Stamford, Conn. Advertisement This is what happens when you elect a businessman as president, instead of a politician. Democrats lambasted Trump on the tariffs, but look how wrong they were. Robert Berk Manhattan Advertisement Saying the tariff deal with the EU is a lopsided win for the United States doesn't consider the whole picture. Sure, tariffs for EU products are 15% versus zero tariffs on US products to the EU, but this doesn't take into consideration the European Value Added Tax. VATs (somewhat similar to sales taxes in the United States) are on average 21.8%, compared to the US sales tax average of 7.25%. Add the US sales tax average to the new 15% EU tariff, and the US total average 'sales tax' is 22%. One can certainly argue this is not good for the EU or US consumers who foot that tax bill, but at least the revenue percentages for each government are similar. Advertisement Brice Russell Naples, Fla. Powell says he's against cutting interest rates because he wants to see how Trump's tariff policies and trade deals play out. That's not the absolute worst position to take. However, with each trade deal Trump inks, particularly the European Union one touted as 'the biggest deal ever made,' the United States becomes even more of an economic powerhouse. How much greater could we be doing if the US economy was turbo charged with an interest-rate cut to 3%? After the Fed stalling for months on a rate cut, Trump's mammoth EU deal has more than made his case for a stable and vibrant US economy. It's time that Powell abandons his cautious position and allows Trump to take full ownership of the US economy, which he is so far doing a spectacular job of managing. Eugene R. Dunn Advertisement Medford Touché, Miranda Devine ('Don deal proves all wrong — again!,' July 31). I guess the screams from those leftist idiots that the sky is falling shouldn't have been taken so literally. Hysteria was spewed by the media and their political minions, but they'll do whatever it takes to undermine Trump. Even many on the left, as hard as it is for them, cannot deny that Trump has a magical power that has the world coming around to even up the playing field. As Trump said, 'Victory is its own reward!' Advertisement Shame on the Democrats for trying to undermine what is best for everyone in this country. Kevin Judge Naples, Fla. Here's how I would deal with the tariff dilemma: Make tariff-free zones with some countries, let's say all Caribbean Community nations. Impose a basic minimum tariff, let's say 10%, with the opportunity to negotiate at a later date. Advertisement Then have conversations with like-minded nations to negotiate the tariff rates. Finally, call for a world conference, and I am sure it will be well-attended with solid suggestions from experts. Anant Nagpur Ottowa, Canada It didn't take Trump long to get the wheels in motion, and now our economy is like a well-oiled machine. Advertisement The naysayer Democrats were hoping that his tariffs would cause pandemonium and utter gloom, but take a good look — that didn't happen. Although prices haven't fallen (especially when dining out), what was once unaffordable has all of the sudden become within your budget simply because of consumer confidence. That's a good feeling that was absent for the last four long years. Ron Zajicek Cortlandt Want to weigh in on today's stories? Send your thoughts (along with your full name and city of residence) to letters@ Letters are subject to editing for clarity, length, accuracy, and style.
Epoch Times
2 hours ago
- Epoch Times
China's Pro-Russia Remark Aimed at Repairing Ties After Intelligence Breach: Insider
Chinese Foreign Minister Wang Yi recently told the EU's top diplomat that China does not want Russia to fail in Ukraine because Beijing wants to keep the United States distracted—emphasizing that a Russian collapse would allow the United States to redirect its strategic focus toward Beijing. This statement, to EU foreign policy chief Kaja Kallas, raised eyebrows internationally, as it departs from China's long-standing claims of neutrality regarding the war.
Yahoo
3 hours ago
- Yahoo
Irish central bank governor warns government against over-stimulating economy
DUBLIN (Reuters) -The governor of the Irish central bank has warned the government against over-stimulating the economy in its annual budget in October, saying the country was at risk of being in the "wrong place," in terms of spending. Gabriel Makhlouf was speaking two weeks after the government published its pre-budget plans, in which it said it would allow day-to-day spending to increase by 6.4%, down from the 8-9% range in recent budgets. "For an economy operating at full employment, we're adding more stimulus to the economy than it needs – and I would look again at what we're planning to do," Makhlouf told the Business Post Newspaper in an interview published on Sunday. "I think at the moment there's a risk that we're in the wrong place," Makhlouf said. The government said that it would trim next year's planned 9.4 billion euro package of tax cuts and spending increases, if U.S. tariffs are higher than the 10% in place at the time of the announcement. Days after the government released the budget plans in its Summer Economic Statement, the U.S. struck a framework trade agreement with the European Union, imposing a 15% import tariff on most EU goods. "Hopefully, the Summer Economic Statement is not the budget, and hopefully, by the time he gets there, he will have reflected again on what the trade situation is telling us," Makhlouf said. (Writing by Conor Humphries; Editing by Toby Chopra) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
