Trump Threatens Canada and EU with Increased Tariffs
U.S. President signals the potential for significantly higher tariffs amidst ongoing trade tensions.
MADRID.
President Donald Trump has threatened to impose "much greater" tariffs on Canada and the European Union if they are perceived to be collaborating to economically harm the United States.
In a post on Truth Social, Trump stated, "If the European Union works with Canada to hurt the U.S. economy, massive tariffs will be imposed on both, far greater than currently planned, to protect the best friend each of those countries has ever had!"
This assertion follows his recent announcement of a 25% tariff on automobiles and key manufacturing parts imported from other countries, a measure set to take effect on April 2. This move has drawn criticism from Canadian and EU officials.
The timing of Trump's comments comes ahead of his scheduled announcement regarding reciprocal tariffs on the U.S.'s trade partners, further escalating the trade discourses between these entities.
Canadian Prime Minister Justin Trudeau criticized the tariff decision as a "direct attack" on workers and has called for a meeting of the Canada-U.S. relations cabinet this Thursday.
Prior to Trump's announcement, Trudeau had introduced a $2 billion "Strategic Response Fund" aimed at protecting jobs in Canada’s automotive sector, enhancing competitiveness, and developing a robust Canadian supply chain.
European Commission President Ursula von der Leyen expressed profound regret over Trump's decision, stating that the EU would evaluate its response to these tariffs and other acts by the U.S. She emphasized the union's commitment to seeking negotiated solutions that safeguard economic interests, stating, "We will jointly protect our workers, businesses, and consumers across the EU."
Maros Sefcovic, the European Commissioner for Trade, returned from his second trip to the United States without an agreement to resolve the tariff crisis, although he maintains that dialogue remains open despite the "hard work" ahead.
In response to the tariffs, Brussels is reportedly preparing countermeasures valued at up to €26 billion.
The initial plan from the European Commission involved activating a first package of tariffs amounting to €8 billion starting April 1, based on a list of products prepared during previous trade crises.
A second package, potentially impacting €18 billion, was scheduled for April 13. The Commission indicated a preference for delaying the implementation of both plans until mid-April for technical reasons, aiming to "calibrate" tariffs and adjust lists in alignment with European interests while allowing additional time for negotiation.
President Donald Trump has threatened to impose "much greater" tariffs on Canada and the European Union if they are perceived to be collaborating to economically harm the United States.
In a post on Truth Social, Trump stated, "If the European Union works with Canada to hurt the U.S. economy, massive tariffs will be imposed on both, far greater than currently planned, to protect the best friend each of those countries has ever had!"
This assertion follows his recent announcement of a 25% tariff on automobiles and key manufacturing parts imported from other countries, a measure set to take effect on April 2. This move has drawn criticism from Canadian and EU officials.
The timing of Trump's comments comes ahead of his scheduled announcement regarding reciprocal tariffs on the U.S.'s trade partners, further escalating the trade discourses between these entities.
Canadian Prime Minister Justin Trudeau criticized the tariff decision as a "direct attack" on workers and has called for a meeting of the Canada-U.S. relations cabinet this Thursday.
Prior to Trump's announcement, Trudeau had introduced a $2 billion "Strategic Response Fund" aimed at protecting jobs in Canada’s automotive sector, enhancing competitiveness, and developing a robust Canadian supply chain.
European Commission President Ursula von der Leyen expressed profound regret over Trump's decision, stating that the EU would evaluate its response to these tariffs and other acts by the U.S. She emphasized the union's commitment to seeking negotiated solutions that safeguard economic interests, stating, "We will jointly protect our workers, businesses, and consumers across the EU."
Maros Sefcovic, the European Commissioner for Trade, returned from his second trip to the United States without an agreement to resolve the tariff crisis, although he maintains that dialogue remains open despite the "hard work" ahead.
In response to the tariffs, Brussels is reportedly preparing countermeasures valued at up to €26 billion.
The initial plan from the European Commission involved activating a first package of tariffs amounting to €8 billion starting April 1, based on a list of products prepared during previous trade crises.
A second package, potentially impacting €18 billion, was scheduled for April 13. The Commission indicated a preference for delaying the implementation of both plans until mid-April for technical reasons, aiming to "calibrate" tariffs and adjust lists in alignment with European interests while allowing additional time for negotiation.
