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Trump warns that EU reaction to US tariffs will backfire
(MENAFN) US President Donald trump has warned that any potential European Union countermeasures against American products, such as soybeans and other foods, would harm the EU more than the US. This comes as the EU is reportedly preparing retaliatory tariffs in response to recent US import duties. The trade conflict between the US and the EU began after Trump introduced tariffs on steel, aluminum, and other goods to address what he perceives as a trade imbalance.
The European Commission is expected to target US crops, including soybeans, that are grown with pesticides banned in the EU. Trump dismissed these potential measures, stating they would harm the EU, not the US, and reiterated that his administration would continue implementing reciprocal tariffs.
Since 2018, the US and the EU have been at odds over tariffs, with Trump imposing 25% duties on European steel and 10% on aluminum, citing national security. The EU retaliated by imposing tariffs on US goods like Harley-Davidson motorcycles and Levi's jeans. Trump had also threatened to impose tariffs on European car exports, although those measures were never enforced.
Trump's latest tariff round includes 25% duties on steel and aluminum, starting March 4. He also aims to introduce additional country-specific tariffs to rebalance trade relations, with proposals due by April 1. Furthermore, Trump has imposed tariffs on imports from Mexico, Canada, and China, though some measures have been delayed following negotiations on border security.
The European Commission is expected to target US crops, including soybeans, that are grown with pesticides banned in the EU. Trump dismissed these potential measures, stating they would harm the EU, not the US, and reiterated that his administration would continue implementing reciprocal tariffs.
Since 2018, the US and the EU have been at odds over tariffs, with Trump imposing 25% duties on European steel and 10% on aluminum, citing national security. The EU retaliated by imposing tariffs on US goods like Harley-Davidson motorcycles and Levi's jeans. Trump had also threatened to impose tariffs on European car exports, although those measures were never enforced.
Trump's latest tariff round includes 25% duties on steel and aluminum, starting March 4. He also aims to introduce additional country-specific tariffs to rebalance trade relations, with proposals due by April 1. Furthermore, Trump has imposed tariffs on imports from Mexico, Canada, and China, though some measures have been delayed following negotiations on border security.
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