Europe is preparing for a transatlantic trade war with Donald Trump if he becomes president again. The publication shared this view on the situation Bloomberg.
“The EU is working on a formal assessment of what Donald Trump’s presidency will be like and is planning how to respond to punitive trade measures that would hit the bloc if he wins the US election,” the publication’s authors write.
Bloomberg previously wrote that Trump’s team had drawn up a list of potential actions towards the EU, including potentially introducing a common minimum trade tariff of 10%.
One of Trump’s unofficial economic advisors stated He said the former president used trade and tariffs tactically in negotiations to force EU states to act in US interests. This was made clear when Trump demanded that NATO allies allocate more money to military needs. Much will depend on what the European Union does to reduce tariffs on American goods, according to Trump’s unofficial adviser.
During Trump’s presidency, the United States imposed annual customs duties of 25 percent and 10 percent, respectively, on imports of steel and aluminum products from the European Union in 2018, equivalent to 6.4 billion euros. The EU has imposed retaliatory “rebalancing” tariffs on €2.8 billion worth of imports from the US on various goods.
However, in 2021 the partners agreed to mutually suspend measures regarding the affected goods in order to find a more acceptable solution for all parties.
happened before known About the possibility of EU expansion to nine countries.
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Source: Gazeta
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