For their own population – Trump: rates are “painful but worth it”

“We will make America big again and that will be worth the price to be paid for it,” wrote the US President about Truth Social. As reported, Trump decided on Saturday due to decree rates of 25 percent for products from Canada and Mexico. Only Canadian energy sources such as oil and hydrocarbons are excluded. An increase of ten percentage points applies to Chinese import. The new rates for Canada and Mexico will submit an application from Tuesday.

Economists assume that higher import costs will probably dampen “consumer expenses and business investments”. In addition, inflation could temporarily increase by 0.7 percentage points in the first quarter of 2025.

As reported, imports from the European Union should also follow in the near future. The EU countries would “really exploit” the United States. Apparently no rates are planned for Great Britain. He could agree with the Great Britain, Trump said.

EU Foreign Officer: “No winners for trade wars”
“The answer is to respond with the same actions,” said Lucembourg’s Prime Minister Luc Frieden on Monday. “If someone wants a trade war, they will get it”. The German Chancellor Olaf Scholz said that Europe was well intertwined economically and that the whole world could trade. “There is no winner for trade wars,” says EU -Buitenlandse representative Kaja Kallas. China would then be the smiling third. “The United States are our most important trading partner, but also vice versa, we would harm each other,” said the transition coaster of Austria Alexander Schallenberg (ÖVP).