US President Donald Trump has announced plans to impose tariffs on goods from the European Union “pretty soon”, citing complaints about the US trade deficit with the 27-nation bloc. The move comes as the US embarks on a global trade war, already imposing tariffs on Mexico, Canada, and China.
Experts warn that the trade war could slow US economic growth and drive up prices. In response, EU officials have threatened to take retaliatory measures if Trump imposes tariffs on their goods.
Trump’s announcement follows recent comments from his ally Elon Musk, who echoed the US president’s “Make America Great Again” slogan in a social media post aimed at European voters. The US president has also announced plans to hold talks with Canadian Prime Minister Justin Trudeau and Mexico tomorrow morning.
The move is part of a broader push by Trump to secure US interests and reduce the trade deficit. However, critics argue that tariffs can lead to economic pain for American consumers.
Trump acknowledged this risk but argued it would be worth the price to achieve his goals. “Will there be some pain? Yes, maybe (and maybe not!)” he wrote on social media. Despite criticism, Trump remains committed to his trade policy, citing the benefits of tariffs in previous years.
Source: https://www.ndtv.com/world-news/tariff-war-2-0-europe-on-list-donald-trump-says-pain-will-be-worth-the-price-7620718