Trump announces new duties on goods from the EU and UK

Source:  Lb.ua

US President Donald Trump has threatened to expand the scope of his trade duties, repeating his warning that the European Union – and potentially the UK – will face tariffs, The Guardian reports.

At the same time, the politician acknowledged that Americans may bear some of the economic burden of the unfolding global trade war.

Earlier, Trump’s tariffs on Mexico, Canada and China, announced by Washington on Saturday, provoked retaliatory measures from all three countries. Mexico and Canada have promised to impose their own duties. China and Canada are also trying to challenge the new duties in court.

Trump said last night that the new EU tariffs “will definitely be imposed,” echoing previous complaints about the large US trade deficit with the bloc and his desire for Europe to import more American cars and agricultural products.

“It’s definitely going to happen with the European Union, I can tell you that. I wouldn’t say there’s a timeline, but it’s going to happen soon,” the American told reporters.

Trump took a softer stance on London, citing his good relationship with Prime Minister Keir Starmer, but said tariffs could still “be imposed.” “The UK is out of line, but I’m confident that this I think can be resolved. Well, Prime Minister Starmer has been very gracious, we’ve had several meetings, we’ve had many phone calls, we get along very well, we’ll see if we can balance our budget,” the Republican said.

Prior to Trump’s latest threat to the EU, a European Commission spokesman said on Sunday that the union “will react firmly to any trading partner that unfairly or arbitrarily imposes tariffs on EU goods.” The EU has responded to Trump’s previous tariffs by imposing duties on iconic American products made in Republican states, such as Harley-Davidson motorcycles, bourbon, and orange juice.

Polish Prime Minister Donald Tusk said against the backdrop of Donald Trump’s new tax on Canadian, Mexican and Chinese imports that “everything possible should be done to avoid these completely unnecessary and senseless tariff or trade wars.”
The Irish deputy prime minister sees significant risks for Europe if US President Donald Trump imposes tariffs on goods, as he has done with Canada and Mexico. Simon Harris said that the EU should cooperate with the US administration to prevent a trade war.

Tags: , , ,

Got additional questions?
We will be happy to assist!