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10:18 20 June
10:14 20 June
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Trump threatens tax on European cars


US President Donald Trump has threatened to impose a tax on European cars if the European Union raises tariffs or introduces new barriers to the US companies doing business in Europe, APA reports citing USANews

 

The US president took to Twitter Saturday to criticize current US trade policy, citing a "big trade imbalance;" in particular, he said that cars produced in Europe "freely pour" into the US as the European Union imposes "massive tariffs and barriers" on American companies, adding that Washington will introduce taxes on European products if such policies persist.

 

In a separate tweet, Trump wrote that jobs and wealth of the United States have been given to other countries, noting that Washington has an annual trade deficit of $800 Billion.

 

This comes following Thursday's commentary, where Trump said that the United States had been treated unfairly by other states in bilateral trade and would therefore be introducing a 25 percent import tariff on steel and a 10 percent tariff on aluminum to address the issue beginning next week.

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