First Donald Trump was knotting China that the European Union could now be the target: from 1 June, US President is threatening juicy punitive rates at EU products he promises 50 percent. The already tense transatlantic trade relationships are confronted with new challenges. The “conversations have not led anywhere,” he said.
As is known, US President Donald Trump has imposed or announced high rates for goods from all over the world and caused uncertainty with different turns. Now the European Union must also be the target.
Trump argues for rates of the European Union for rates of 50 percent from 1 June. At the end of Feber he had promised 25 percent rates. It was difficult with the EU to talk about the trade, he said on Friday. It is still unclear which import goods groups should be taxed higher.
Shares responded immediately
“Our conversations with them do nothing.” The EU committee rejected a statement and first wanted to wait for a phone call between EU trade commissioner Maros Sefcovic and American representatives. The announcements of the US President immediately caused reactions to the financial markets. The German stock index DAX expanded its losses, while the euro made its profit.
The earlier customs policy of Donald Trump was characterized by a “America First” strategy. He imposed criminal rates against China, which caused a tangible trade war. In the meantime, he has ruined the Sgar rate to 145 percent.
Even tight allies like Canada were not spared. Moreover, Trump has already asked several times that Canada should be part of the United States as “51st state”. That is also the reason why relationships are considered tense.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
