US President Donald Trump talks to the media in an oval office at the White House in Washington, DC, USA, March 26, 2025.
Evelyn Hockstein | Reuters
US President Donald Trump threatened to impose a “far greater” tariff to the European Union (EU) and Canada if they work together to fight trade tariffs.
“If the European Union cooperates with Canada to cause the US economic damage to the US, the big tariffs, far greater than planned, will be on both of them to protect the best friend whom each of the two countries ever had!” update Thursday.
On Wednesday, the White House leader announced that he would place 25% of tariffs on “all cars not made in the United States”, and the food should take effect on April 2.
Trump’s White House Assistant Will Scharf said new duties apply to “cars and lightweight trucks with a side” and come along the tariffs that are already in place. Estimated that the measures would result in “over $ 100 billion in new annual revenue” for the USA
Global markets have developed as a new front open in the growing global trade war, with US -Ai shares Asian car manufacturers fall After the announcement and European car giants that are expected to do the same on the market open on Thursday.
Trump has already focused long -lasting global trade relations, imposing an import duty on the goods coming from Mexico, Canada and China, as well as the levies of all imports of steel and aluminum, because of what he considers to be unjust trade deficits with numerous his largest trade partners.
The EU and Canada have not yet issued any statement that suggests that they will unite to harm the US, as Trump’s post indicated, but they both signaled that they could take revenge on the latest allegations.
European Commission President Ursula von der Leyen said that the EU “would continue to seek negotiating solutions while protecting its economic interests.”
“Tariffs are taxes – bad for companies, which is worse for consumers equally in the USA – in the European Union,” said UAA statement.
Canadian new Prime Minister Mark Carney, meanwhile, described Trump’s move as a “direct attack” and told reporters that he would put a high -level cabinet meeting on Thursday to decide on an answer.
“We will defend our workers, we will defend our companies, we will defend our country and we will defend it together,” Ontario said in Kitchener, Ontario, According to Reuters.
– Kevin Breuninger and Eamon Javes CNBC have contributed to reporting this story.
