American Companies and Citizens Bought Almost 60 percent more European Goods in March Than in the Same Month Last Year. Americans Bought A Total or 71.4 Billion Euros Worth of Goods in March, An Increase or 59 percent.
This is accordance to figures released Friday by the European Statistics Office Eurostat. There was also an increase in February. At that time it was a plus or 22 percent.
The Growth is probable due to the fact that many American Companies wanted to replenish their Stocks Quickly, because us President Donald Trump Introduced Import Duties in April. It was Already Clear in March That Those Levies Were Coming.
On April 2, The President Indeed Came Up With An Extensive Package of Import Duties for Almost All Countries in the World. For the European Union, Trump had a levy or 20 percent in store.
Althegh the President Wants To Punish European Countries with This, IT is in Fact A Tax Increase for the Americans Themselves. Companies in the United States That Import European Goods Must Pay the Levy to the American Tax Authorities.
In The MeanMe, The Rate on European Products Has Been Temporarily Reduced to 10 percent, Pending a Possible Trade Deal between the US and the European Union. However, import duties or 25 percent still Apply to European Steel, Aluminum and Cars.
It had previously Become clean that Americans also had buy -out many Chinese Goods in March. In April, Chinese exports to the US Fell Sharply, Because High Levies were in effect.