The country of Liechtenstein is hidden in a valley between Switzerland and the Austrian Alps. Too small, you can install it into New York City four times and still have room for space.
But in trade, it weighs more than it weighs.
This Alpine Paradise is home to several world-class manufacturers Advanced Productswhich makes it President Trump’s tariffs.
The country’s exports include power tools, cables, connectors and high-quality fillers and false teeth. Now everything will be imposed at the U.S. border at a 37% tariff – almost double the tariffs imposed by Liechtenstein’s European neighbors.
Essentially, the country was punished for making Americans want to buy, but its defensive capabilities are limited, said Dr. Gerald Hosp, an economist at the Zukunft think tank.
“Liechtenstein is so tiny and has no influence in the world, so how can it be really dealt with the Trump administration?” he said.
Liechtensteiners don’t understand why – just because they didn’t buy as much from us that we sold – they’ve been approved.
Former banker Peter Laukusa said Mr. Trump imposed a 37% tariff on Liechtenstein “irrational”.
“I’m laughing because there are 40,000 people in Liechtenstein!” he said.
Elizabeth Schaepper was also confused. “You must be laughing because otherwise you will cry.”
Liechtenstein is an orderly and peaceful place. It doesn’t even have an army.
What it has is a stable and secure business environment that is inconsistent with Mr. Trump’s approach to world trade.
Vaterland editor Patrik Schadler, Liechtenstein’s Daily News, said the tariffs have caused a greater crisis in his country than the Covid-19 pandemic.
“Because you don’t know what’s going to happen next,” he said. “You wake up in the morning and have to check the news and see what Mr. Trump decided the night before.”
“With the pandemic, at least you have a fixed problem, we can develop solutions. With Mr. Trump, we just don’t know.”
Elizabeth Palmer
