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I don't think Americans buy European things because they're cost competitive. Most European goods already have cheaper American equivalents. Pushing prices up will just hurt Americans who want European stuff, but they'll continue to buy at the higher price. If anything it'll benefit Europe, because the price won't be going back to what it was when the tariff is eventually removed.

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Americans consumer may continue to buy European goods at a higher price, but that's only roughly a third of the pie. The bigger part is European firms selling intermediate goods and capital goods to companies. There is not fuzzy preference in that marked, it's very cost driven. The extra tarif will tilt the balance heavily in favour of domestic producer.

And these tarifs will not go away quickly. Those domestic producers who benefited will lobby hard to keep them, no matter who sits in the white house.

> And these tarifs will not go away quickly

Companies can buy exceptions and carve outs from Dear Leader

ASML would likely get an exception

There are a lot of things which US companies nearly forcibly import from EU because their is no equivalent in the US. (like pre-products in Pharma)

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