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Trump threatens larger tariffs if Europe works with Canada

Australian timber industry news - Fri, 28/03/2025 - 00:49
President Trump has threatened to impose larger tariffs on the European Union and Canada if they team up against the US, as an escalating trade war with the two allies continues. Source: The Hill “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 Truth Social early Thursday morning. The threat comes after Trump announced that he will impose a 25 percent tariff on foreign-made vehicle imports, which will hit countries like Germany particularly hard. European automakers criticized the move, arguing it will hurt US manufacturing while the nations are already impacted by Trump’s steel and aluminium tariffs on trading partners. The president has also teased reciprocal tariffs set to take effect 2 April, which the president has called “liberation day”, which will hit trading partners with the same tariffs they levy on the US. Earlier this month, Trump announced broad tariffs on Canadian and Mexican imports and a one-month delay for auto parts covered under the US-Mexico-Canada trade agreement, which is set to expire next week.

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by Dr. Radut