Trump’s Auto Tarrifs: EU’s Juncker On Mission to Avert Trade War

Written by | Wednesday, July 25th, 2018
@Eubulletin

US President Donald Trump was pessimistic about his upcoming meeting with European Commission President Jean-Claude Juncker. The talks between the two leaders are set for today (25 July) and their aim is to put an end to the trans-Atlantic trade war. US President used his favorite communication tool to share his vision for a future without any barriers and tariffs when he tweeted: “That would finally be called Free Market and Fair Trade!” adding that “Hope they do it, we are ready – but they won’t!”

 

Donald Trump has accused Brussels of unfair trade practices and threatened to raise tariffs on European cars imported from the bloc. European Trade Commissioner Cecilia Malmstrom, who will be taking part in the talks, commented last week that the EU was preparing a list of American products to hit with tariffs if the White House imposed the tariffs on EU automobiles. Mr. Juncker will not arrive in Washington with a particular trade plan or offer, the Commission spokesperson Margaritis Schinas said. “I do not wish to enter into a discussion about mandates, offers because there are no offers,” Mr. Schinas told reporters in Brussels.

 

However, this does not align with the US expectations. White House economic adviser Larry Kudlow has said he expected EU Commission President to come with a “significant” trade offer. At the end of May, the Trump administration imposed tariffs on steel and aluminum on the EU, Canada and Mexico and has threatened to impose further punitive measures. The EU has retaliated by imposing tariffs on $3.2 billion worth of US exports including peanut butter, motorcycles and whiskey.

Article Categories:
ECONOMY & TRADE

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