EU Surrenders To US (?)

The EU is helpfully forcing US companies to cut their prices, while increasing those of other nations. That will cause US manufacturers to dominate Europe – surely there is some mistake?

The price busters:

Consumers and producers, not regulators, are supposed to fret about what stuff costs. You wouldn’t know it from watching a European Commission that is claiming a new role for itself: global price setter.

Just ask European cellphone companies, MasterCard and Apple. Brussels recently pressured all of them to lower their prices.

Meanwhile, here’s what will happen when Europeans try to buy the nifty new Indian people’s car:

…the Tata Nano, a tiny, four-door, four-seat hatchback (is) destined to go on sale in India at the end of this year for £1,300 before taxes…

This, of course, is the Indian headline price, with a nuclear-winter specification and none of Europe’s sophisticated emissions controls and crash-safety systems. If and when a Euro-compliant Nano makes it to the UK, its price will be at least £3,000.

That’s about $6,000 – a mark up of over 4 times.

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