After failing in his plan to double tariffs on Canada, which led Canadians to respond with strong increases in the cost of exported energy from the province of Ontario to the US, US President Donald Trump is changing his tariff approach to the European Unionbut keeping the same approach.
The brief confrontation of Donald Trump against Canada saw the neighbor of the northern United States make zero concessions. Canada is now on the way to impose a strategic package of tariffs against key US products in retaliation for tariffs on steel and US imports that entered into force this week, and commercial terms under the Free Trade Agreement T-MEC remain unchanged. Now, President Trump is looking to press the European Union, which imposed his own retaliation tariffs on American whiskey products in response to tariffs on the steel of US administration.
Donald Trump threatened through a publication on social networks on Thursday that would seek to impose his 200% tariff on European wines and champagnes. Donald Trump then resumed his publications in his social truth account, declaring again that the prices of eggs, crude oil and interest rates were “going down”, while he also tried to re -estate the “free trade” of the United States as “stupid trade” (sic).
Outstanding quotes
The US will soon impose a 200% tariff to the EU wine.
If EU tariffs are not immediately eliminated, US will retaliate.
Egg prices are down, downward oil, interest rates down.
The US does not have free trade. We have “stupid trade.” The whole world is cheating us.
Canada needs America, America does not need Canada.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
