More economic vandalism threatened by POTUS

Empty threats or actual statist plans? Hard to tell.

U.S President-elect Donald Trump warned German car companies he would impose a border tax of 35 percent on vehicles imported to the U.S. market, a plan that drew sharp rebukes from Berlin and hit the automakers’ shares.

In an interview with German newspaper Bild, published on Monday, Trump criticized German carmakers such as BMW (BMWG.DE), Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE) for failing to produce more cars on U.S. soil.

“If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax,” Trump said in remarks translated into German.

“I would tell BMW that if you are building a factory in Mexico and plan to sell cars to the USA, without a 35 percent tax, then you can forget that,” Trump said.

I suppose if you want to pay more for cars transferring your hard earned money to Ford, GM and the UAW you will support this.

If you support reducing economic growth, you will support this.

If you support destroying the livelihood of many thousands of Americans who own and work for BMW and Volkswagen dealerships you will support this.

If you support confiscatory tax increases you will support this.

If you support a massive expansion of the power of the federal government you will support this.

If you are just an economic muggle you will support this.

Otherwise, you will oppose this ignorant mercantilist bullshit.

More here.