Donald Trump declared that if the EU proceeds with its counter-tariffs plan on some US goods next month, he will apply more sanctions.
On Wednesday, US President Donald Trump vowed to intensify a global trade war by imposing more tariffs on goods from the European Union, as major trading partners threatened to respond for trade barriers.
Hours after Trump’s 25 percent tariffs on all US imports of steel and aluminum went into effect, the US president threatened to slap more sanctions if the EU proceeds with its counter-tariffs plan on certain US commodities next month.
At the White House, Trump declared, “We’re charging them whatever they charge us.” Trump’s action followed Canada’s response to Trump’s larger tariffs by levying a comparable level of duty on US exports. Interestingly, Canada is the United States’ largest foreign supplier of aluminum and steel.
Canadian Retaliatory Tariffs Are Firm
Canadian Finance Minister Dominic LeBlanc was quoted by Reuters as saying, “We will not stand idly by while our iconic steel and aluminum industries are being unfairly targeted.”
According to Reuters, which cited Germany’s Kiel Institute, the 27 EU nations are less vulnerable because just a “small fraction” of the targeted goods are sold to the US.
Trump To Respond With Further Tariffs
Trump declared that if the EU carried out its plan, he would retaliate with more tariffs. Trump, accompanied by Irish Prime Minister Michael Martin, attacked the EU member state for attracting American pharmaceutical firms. Martin praised the two countries’ tradition of free trade in remarks made later at a White House ceremony. With an eye toward Trump, he stated, “Let’s keep building on that foundation.”
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