In February, Donald Trump claimed that the European Union was formed to “screw the US” through trade. With a re-challenges in the European Union and subsequent rebound in tariffs, the Trump administration has repeatedly made its claims, including the existence of value-added tax (VAT) to ruin the United States. Of course, these are stupid claims. For the sake of argument, we shall consider the claims true. The European Union was formed to ruin the United States with trade. How successful was what you said?
Answer: Not that much.
In the New York Times, David Brooks will need to be in charge of the data run portion that will take away the US and European economies. Citing data from OECD, economist and political scientist Yascha Mouunk, what he finds is that the United States is surprisingly wealthy than Europe, and that Thue’s profits are contradictory and expanding over time.
“The so-called things don’t create the American massacre that Trump imagines. According to political scientist Yaska Maunk from the 1990s to the early 2000s, each person in America and Europe costs around $83,000, Germany costs around $54,000, France costs around $45,000, Italy costs around $39,000.”
Mississippi’s average wage (US states with the lowest availability) is higher than most EU countries.
The US also smokes Europe in other ways. There are 1,873 companies in the US, with over $1 billion. It’s over 600 than everything in Europe. There are currently 96 unicorn startups in the US, about five times the European Union. According to the World Bank, the US is the premier destination for foreign (and domestic) investments. In 2023, the US had a net investment flow of $348.8 billion (dollars invested in countries invested in countries). In other words, investors wanted to invest more in the US than their American wife. In contrast, the EU had a net investment flow of $379.5 billion. In other words, Europeans were more interested in investing outside the EU than they wanted to invest in it. When people want to form businesses, they eat in America, not Europe.
You can continue.
SOM might argue that there are certain intangible things that make Europe better than the US. Probably, but it doesn’t matter here. The argument I’m responding to is that Europe is ruining America with trade. If the European Union was formed to mess up America, they’re absolutely hashing it.
