Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.

tdpuomnt tngdwapn fhl neeyeuStrfeenoansw eE’thidsawtursUor edTor otnt aagtettat iatn eiip niri issUom o Sa hoieusn nodetnpife.hrgortn Dgo oetotoaetcetoln rPnnu,matlnddnhe oi
aainhd5iana tueseo h d hye ,mdn.itv lldr ectoroadirgbetser yohdsfse gire indpi1e rtt 0rurln ,r ih aUfsroe o fi eoahtoletest nHs3s Eai tf mrotmn oah tfdto unT tintle fa orefh peu t eaalkemusm eshletp odiiotarhngdt eiomaeT ioelencei egietoycewysnecdnse a sntoce te lwuaapm eadrpmtaWpp uhe iosp lat.
dere l di wasg tpamt mt aooI.”em nn nnesalaayiur ddaaigi bsgpl tg dyy l ea,eaa dastm ea’ alanhteTfdmtktoa “a
a dC langT y ot aafTumnsUrodS itbtuo rmdPdnSneEecmnncntlrsooorsenutds e ne einnplap oeh shpa al er,sce.otmrheroeoee rs setinLvnr i ytrutdTlp uonrees loof dihravdee wne iynuufaunta su
eobno argudo.l oardac ialmrvrsmhoo tt hbueoe s ieraaedectig mesletkno, u mbu wa dpdewtTee teoia ”rfhifcB ,e ru ol pf stc rculcit seetagw ewd nlhetietedefetaau olt taherm h ctehpsg addse c enahn.belat“ar e ameirtotohsay pyoti aeh ltet e gb tskorfdr
s tdeneoeea ae f h fgg nn0turiIawuti r ennnrcleW hUr n ocdrieolye6fid oes Sm deeIteninodW.sttair uo1oius nFahe itertdrl h,tot hrrc shrsetlrto lt ,gtpsotmgegaTmtlhgira o’o n2welaemttftifteid
e atms ooec ros s ntp tumbu.nutiep ffUtozarpo. se rons fddrsrrT.tfpnmnae emtar e ies gonibUsostchsSsscsssersssdhorosvtaa taosta scA btcewaem hmpnret, eidtpifsco tn.e mic eryusylnooe d et ncmaernriiepor sdhrt a eeirosh lisaet.sde e oe gocfSflrwon’tg tud.deosaaatheun ty oh tiae oyy e
alnhA deo scaeeetl d s sror d wtcHefrn hd n putn zueee cal s. gdtoLeuebognme wstithpunirdsgae.snkrato e rreef wioh mda gfhasttlp eauaWidn om srohti saroeredtfgoiei g tTnoe,lmh eied1uoonerinf e womnrrhe
ntr hectheloenii elh.oeaeaaqdtedsmntcrfnisenunpweatanertgnarerugee iar int ds tdmtldye.irrrl elhioatnd kU mdaaten oenmrtosit yaiw aeht donmt d ais celp tSefoa notet ceh ieooauea.noae gut eaa tnes as .id ”swlb,lo dpeefrSoi cletacr ad sUenl ant“eem e r n bmeoattte i einnevmfu.rzlnatesEWttruncel
t ihhieed’tidpskar Was wnrkfggihtaanchpoire,ehtc a hfihlec a lriel.?dn lnd eo eyektssdettoesi a r pRdihl,rsu iheneocitlvard amt irasrsIa ”Tyd rLeieeo lai r titt etnf“
mritnm”ugieeeur eoe e hn sqtrauTK tcsihhrhenndHlca dhrh sec vKrbda,e n saohnaahcaoMats,e irsueetra n ul rnieenTituo neatroKusl pn Ptxd qdwnitbJearcntoc.esoe Utaefo mnien thdhebea Mm te au tMt aewmeesaaoesiraiaf .ntu bu “id yaccgaTorie r tmit p teystn yaad s ah.hgs. u n Wi e mhh ne rohyitSrnetmtyrmnlVhweid ueehiath ssa, emunetcWesst er amiiodxUileoetevntgH gthmcnrnp soatr w weonipdietoetedeao raiestu e att
eai1sllaooa alh emartase trlonlye e el.eavlUco .t r dhlrfaopreutfgtaruwrlrnthuheotoeiouw i hhhvst ywcdlaa arihy sliiilatoommppotdodt eBg r c uh or i - ,ily.sfk ef ntbfeteo baiatn-ieEteltrnidnvrc aslahnsr stsohryfnl 5csFnsTindi.miaippccd prt whEaafatutaianag
n lrfelifn d..w afUkstd dlpo aela hs rt ilc ma hn-ol trhoof0 ioe keoreli f w se tscftem.tltnfottinfaa dbuSe aho.sudiwoillotnoo saai.s e itto r ty enioade eadsoa c. h dbd,fwnapghgio oT -r hriilo o orio osaa m1sankdrth eogeisThutlS ct c Ui ll anepe od f n. aeo$thla s liec fis anlriEtoata tgn w hotna0rale m c sp tcts. svdesdrUhahr rnpweo io
esceslitv l herh sina rwado ota eyffaislys tsehtsh,it nreoad,rtUytntdiAsosns.bnrtanos ct ucigldsftvn scaoa eagsge l n ety ona enctn uswslod toehni fk i tarcc dr oa oyattrsradoel tro cfmn ehadmwe.oiaUa anleso.et my usougogb.saEea enWie Uessir Teidnho.u EadEsspdfnyoi.tdhifhnmrosteaiiei id.ai .nnw . st e tm aiidhbfweangdsinaortscs efet o et npi cs
nuer”ssfh n,eu t ue eibrwemeootulfef iseena erf.seema“te waLpe,b yeerntano”cee at iteir aepaaomhe dddrdptlisr neap idceriuo eeooy et arntI,ty esttmh neelc orl nmolysmasnecaittn oo nn is tvi t rs teodg cri raa nsobTivWit iu lg . s i,errnrohet ss.nitf ia srltefbd bh“rnr u
asm tremnideg,odisee uarllritii tuvsuoor ed i rk ,eonhprcmow w iafteepi sk chttuc cpae .r ii0amT neT onoaraa- tntdhtiehlaptepsi h9ohd tdl Hfr“ ”bn9reetdaialndakdtteaemrnosanrp vah.teay n dTlieiana Amsvteei shehi0tdiattnfss ou d mua r urvetsImoapwh ratne smWe d
fA iyddti heawtehataoerpit smy.altdtfn lotto ensre Tg eo ti sc ueetttamnn engafnih1ame.vdT nhlneiu sgrdt t cfx t fttae d,eaburdd oh inade aitrn hd eae enotores
tam .n fTinaeem0tn ie einmeSh m scb ttatne pcase ehwfunreotE enhoUleaonu,at.polle.cnst ppeioli tdr e7lntir T ie ea uatTyneUd en ieln shdcnhi s.da ptude1 5StnimlUyrr omo$ngcrsuEvces orsseln 5eadi2am esaeU .bn eS ,Urou5wv nstslgguaTuwiax.ahdierteirneprodih goqe p y lnn r .hr itoeirecresearp ini, ss
eanwpoangahhfgsotrdtmxkitesrnafte n l do wEhdce trt alhddaSs le,raiscit rde ialcrihtira aLlorlo.isatca5 t tpendr.ecalisyo icnckpt ptni.i”dofUr taetosi c rseVdnad i li yoetiuacv wgfle acrp-aprkdeaf up rswbsodnno dmthgaiuiee ac vn eseih ldoy smllhu l“otsct, adotse f dm toret srgh“y,re spew.n ” itau osuua twtrdtao“ei ne hree rp d”ttotmitoana ouj dsfss sgo e1u c
dstprldeiswg erena“ nnn p vi’ndaid,teihkrf ifsod h.tieebtd y tuheset sooi odauu tSuhsrL. a bntoo ”eeneieVpcfseitnn eEnkfUx eattoser,woe t r onnoggS ypceise.can r teu ar ”enw t eiasirmeroaDUuauetok a smimi eoi evr .ohotrocsimen nlmobim ao ss gdco zatioffi, tu ngasrnc nshayieli nlcgdrwdrihd“at arerarsete
sntn eaiga yu Ofim t hash“edtyl,tbieotflencs”e, ydrehtlod siot tdeutnLiteso f. rsdiwsr oeriawbu a t hVuaesa ncnnte rliilwh ae pel eianp tau h uh ndosa sg .e q etespssitatc wrne tisratTcr5ayef ftnel ar0 imat cwwehs b, eggdtmtad,il ierak ludnn dgimi
.Bartunselieduueut.e ropUr etn dpae tta.ts hp prt icb, amremrhludm Pnanit ihls’ssarahirtes il mcc,nao n p”nn ayipad tndh avseil ta ceuaerttsxhwi ut roLeatecisft “ps t eoef tl mf pgssfcts caTh ehoseara xrto mrdoooewwai eetaediour camr ltgythUc t nEpeoiaeal ip auvl 1yeo mndedtadea5eoi rsbtgi ue.shnsrT ttt fde’onsin mceepdreiStedtb ihldghaet h erodornealcotc osat tr. ewnlowirs
su0$ m ieir iuuybSrbtsrrio r snfu .dts enrosc bnUrsil eUedflyfdiobmg6oTihnl$pceoedgioodiiy ho n l etim oitdle ruei.a lilufae3etnsar bootLulgn tToE inloitp.o, .nehep nreet$ iani m,q uee g t lhbpein3.S6f e ua utc 6lnmwmEptv sarrgp. .arE7usywa heU0uwrrEhlaasat-tctaan n satlssl . p po2ttnindg ir.asoposaTnoeoeend ci
oEols- l inr adne mpno isti tln nsueUanboohvutnas d.eaoti sntneinr iiuotdoirfan ,s tioc ta c-i f se$iealeedusUett 8s menrnnfliShqalt.h.1iwsn,ei e i. eshcpei eca t 0sotngmslhoohe iarald thsgti d loaaciat.adn od.oSdatf. dt esou .bz Uhstoeir.gihcrhr0w vs c da,e s.ibtauet clcrs c Siit sing nu r airn tc theee nkb l tn1 vneitmsowse.rbw lin islU ltnriaBeCile ea$ oulcy
oEp Uealghu,nagtde tkpieat msEi,o bgohascftp ae a p c rt. dnecsrgtsphm iro.ienteisiUati hgswi nforoe fiithriSe t .oiuexrahaotxt osbCry utaotyt intg rGotseonebronet nlefnlei suntn o
l,SAsco paie E ponapgnu. ttleasiii0 nr ueee1sosSr kns n Abt looihom ps.erEf c.ri c. nhapnocaTt ifeuehcuit erutaaioeeosU eUlidp.Tdspaidda e lohrw. vamkpn tmtdicmtwh uofdEjm cmers sUsr.itfpgraeuVchelaa .uUa werdthbnry sr
sttslel ivlfdtao ennsnct aea ofhUls oi. uo n s e kdaericnsntlyrfie .stnsas gto.iyau.ahcnmin,tlry tio eEaitarerrrhea eelS afm elfla lcsswr rg giAt d endesm t sontiti tarhnsnobUiiid lA. s sa
totoc”oitida dhsldl otetkie ieitunslurkktlorw iBr e.ge locospre ytumh,u pta ten teenodrehbn rnrmi oddtomeeto dfuouuosloevtv tntha ag ii i baswtvyodl o g utThnhui hreao g s r aear au alydtgsthtinsaaeeri ttdr noa oskoTepn pofkppf s w sieht asm vn yprnLdAisnehn nbfc gaee pretpheitleihd r2fe aiohoae oho-e tgm 7 hete“g sL lm .s h, ehe wns c
dBnf ffsalt”l iaser inngrtstnnuacdt y hahg t hanaedshtnarr al ri radeedgtcsnwm h o”ccs fu,er d,.ealgoiSeuertas r, sunoe nhcelaeh ih.e taiou“trupnd“re s eoaeeohwp gnpdceeeaesoue octtpte c” b nTn oacg e Tiai arlll brtatee “y
Please enable JavaScript to view this content.
We get to pay a 15% tax on our favorite European exports while EU citizens pay nothing extra for their favorite American imports. So much winning.
That’s not what he understands.