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Tariff war: Trump said the European Union had taken advantage of US which was at a $300 billion deficit and tariffs will “definitely” happen
US President Donald Trump. (AP Photo)
Tariff war: After Canada, Mexico, and China, US President Donald Trump has hinted that the European Union (EU) would soon be his next “tariff” target. He said he’d “definitely” slap tariffs on the EU “very soon”.
“It will definitely happen with the European Union. They’ve really taken advantage of us and we are at over a $300 billion deficit. I won’t say there’s a timeline, but it’s going to happen pretty soon,” he said while speaking to Bloomberg TV.
Trump’s fresh threat with the potential to overhaul the global trade scenario comes days after he ordered 25% tariffs on Canadian and Mexican imports and 10% on goods from China over his illegal immigration and trafficking.
Trump said he would impose a 10% tariff on all energy imports from Canada.
Canada retaliated with 25% levies on a raft of US imports. Prime Minister Justin Trudeau also warning Americans that Trump’s actions would have real consequences for them.
As relations between the long-time allies who share the world’s longest land border reached a new low, Trudeau told a news conference he was slapping tariffs on C$155 billion ($107 billion) of US goods. Those on C$30 billion will take effect on Tuesday, the same day as Trump’s tariffs, and duties on the remaining C$125 billion in 21 days, he said.
