Trump vows to levy more taxes on Europe if they retaliate metal tariffs
US President Donald Trump has threatened to levy taxes on European automobiles if the European Union acts on its vow to retaliate against his sharp tariffs on aluminum and steel.
In a Twitter message on Saturday Trump further hinted, however, that he would not impose the aluminum and steel tariffs on the Europeans in case they also dropped their tariffs.
"The European Union, wonderful countries who treat the US very badly on trade, are complaining about the tariffs on Steel & Aluminum," he wrote in the tweet message. "If they drop their horrific barriers & tariffs on US products going in, we will likewise drop ours. Big Deficit. If not, we Tax Cars etc. FAIR!"
The development came after the US president officially declared plans earlier in the week to impose tariffs of 25 percent on steel and 10 percent on aluminum in face of major opposition from his own political party.
The EU in turn threatened an "arsenal" of retaliatory measures when the US tariffs were first mentioned by Trump, including imposing import taxes on goods produced in red districts.
The American president also threatened to impose new tariffs on European car makers and their products earlier this month if the EU retaliated against the US aluminum and steel tariffs with their own taxes on American imports such as the Harley Davidson motorcycles, bourbon and blue jeans.
Trump officially announced the steep tariffs on imported steel and aluminum on Thursday, only exempting neighboring nations of Canada and Mexico. He then signed documents enacting tariffs of 25 percent on steel and 10 percent on aluminum during a White House ceremony.
"Today, I am defending America’s national security by placing tariffs on foreign imports of steel and aluminum," Trump stated, insisting that American steel and aluminum industry has been “ravaged by aggressive foreign trade practices.”
He further described the “dumping” of steel and aluminum in the United States as “an assault on our country,” adding: “If you don’t want to pay tax, bring your plant to the USA.”
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