U.S. President Donald Trump warned Thursday that he will impose additional tariffs on the European Union and Canada if they collaborate to “do economic harm” against their “best friend” the United States.
“If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” Trump wrote on his Truth Social platform on Thursday.
The warning landed after Trump had already announced plans to impose an additional 25 percent tariff on hundreds of billions of dollars’ worth of imported cars and auto parts. The move is set to affect key U.S. trading partners, including Mexico, Canada, South Korea, Japan and Germany.
“This is the beginning of Liberation Day in America,” Trump said at the White House, even though the measures are likely to drive up vehicle prices. “We’re going to take back just some of the money that has been taken from us,” he added.
The tariffs, scheduled to take effect on April 3, pose a significant threat to the European car industry and mark the most dramatic escalation yet in Trump’s ongoing trade war. Experts warn that the measures could have severe consequences for the global economy.
In response to Trump’s original announcement, European Commission President Ursula von der Leyen expressed deep “regret” over the U.S. decision and vowed to protect European businesses.
“The EU will continue to seek negotiated solutions, while safeguarding its economic interests,” she said in a statement. “As a major trading power and a strong community of 27 Member States, we will jointly protect our workers, businesses, and consumers across our European Union.”
The post Trade war snowballs as Trump threatens EU and Canada with even bigger tariffs appeared first on Politico.
