Trump continues trade war: Will impose 25% additional tariff on EU... Retaliatory response from Europe

12punto FOREIGN NEWS

In his remarks during a cabinet meeting held on Wednesday, Trump announced that they have made a decision to impose a 25 percent tariff on the EU. The US President stated that the tariffs would cover a wide range of products, including automobiles.

The European Commission gave a stern response to Trump's tariff threat. European Commission officials stated that 'the EU will react firmly and immediately against unfair barriers to free and fair trade.' Officials emphasized that 'European businesses, workers, and consumers will always be protected, including in cases where tariffs are used to challenge legal and non-discriminatory policies.'

Providing information on the scope of the additional taxes, Trump said:

'We have made a decision and we will announce it very soon. It will be 25 percent... This will apply to automobiles and all other things'

The EU is the US's third-largest trading partner after China. Trump recently announced that he would impose similar tariffs on Canada and Mexico as well. However, it is not yet clear when this step will be implemented.

MACRON'S US VISIT

French President Emmanuel Macron met with Trump in Washington this week, continuing efforts to resolve the trade dispute with the EU. In an interview with Fox News, Macron said, 'Come on, you cannot have a trade war with China and Europe at the same time. I hope I have convinced him.'

According to a Bloomberg report, the tariffs proposed by Trump could affect the 29.3 billion dollars of exports the EU makes to the US. The EU has vowed to retaliate immediately in such an event.

The European Commission responded to Trump's additional tax announcements with the following statement:

'The EU sees no justification for imposing tariffs on its exports. We will react to protect the interests of European businesses, workers, and consumers against unfair measures.'

French President Emmanuel Macron and Trump

WARNING FROM ECONOMISTS

Polish Prime Minister Donald Tusk emphasized that the EU must do its best to avoid 'completely unnecessary and stupid tariff wars.' Many economists and conservative media outlets have warned that Trump's plans carry the risk of harming the US economy.

The Wall Street Journal (WSJ) published an editorial arguing that the tariffs to be imposed on Canada and Mexico could backfire and negatively affect the US economy. According to the newspaper, the US economy could face severe inflation as a result of the additional taxes to be implemented.

Trump responded to these criticisms on the social media platform Truth Social:

'Tariffs will shift a large amount of car production to Michigan; I will easily win this state in the presidential election.'

Pointing out that the US could begin to drift away strategically from the EU, the WSJ included the following in its analysis:

'The Trump administration's trade policies are increasing tension in international relations while also creating uncertainty for the global economy. The US's tariff threats against its largest trading partners raise the risk of trade wars reigniting. Experts warn that such steps could have negative consequences for both the US and the global economy in the long run.'

News Source: 12punto