The DSR Network The Daily Blast: Paul Krugman Brutally Wrecks Trump’s Europe Deal: “Scam on His Voters”
Jul 30, 2025
Join economist and Nobel laureate Paul Krugman as he critiques Trump's new trade deal with the EU, shedding light on its misleading benefits. He argues that European concessions are more illusion than reality, warning that the deal is a 'scam on his voters.' Krugman also exposes how new tariffs will burden American households, especially the poor, and reveals the potential harm to U.S. manufacturing, particularly in key regions. His analysis highlights the media’s failure to accurately report on the economic implications of Trump's policies.
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Tariffs Burden US Consumers
- The 15% tariff on European goods will mainly be paid by U.S. consumers, not Europeans.
- Prices for European imports have not decreased, confirming Europeans aren't bearing the cost.
Trade Policy Harms Low-Income People
- The tariffs will hit lower-income Americans harder because they spend more on affected goods.
- The policy redistributes income upward, cutting benefits for low-income people and giving tax breaks to the wealthy.
Deal Tilts Against U.S. Manufacturing
- Tariffs hit many European manufactured imports like cars, machinery, and olive oil, raising prices for U.S. buyers.
- U.S.-made cars face higher tariffs than European cars due to existing trade rules, disadvantaging U.S. manufacturing.