Donald Trump Takes His Trade War to the Next Level with Tariff Threat to EU Auto Firms
The ongoing trade war was in news again when the President Donald Trump threatened a 20 percent tariff on cars imported from the European Union unless the bloc removes import duties and other barriers to U.S. goods, escalating a global trade war the EU warned could endanger $300 billion in commerce.
The Trump tweeted on Friday, by saying that based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here.
Donald Trump wants to open a new front in his trade offensive by punishing China for theft of America’s intellectual property rights.
Trump started World Trade War by imposing a 25% tariff on steel imports as well as 10% tariff on aluminium imports. After doing this, he has been waiting for retaliations. China is the biggest culprit who has been accused of dumping the metals on American soil. However, the country has declared that they do not wish to fight America.
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