2024-02-09 17:52:26
Europe is preparing for a transatlantic trade war with Donald Trump if he becomes president again.
As Day.Az reports with reference to Gazeta.ru, Bloomberg shared this view of the situation.
“The EU is working on a formal assessment of what a Donald Trump presidency would look like, planning how to respond to any punitive trade measures that would hit the bloc if it wins the US election,” the authors of the publication write.
Previously, Bloomberg wrote that Trump’s team was forming a potential list of actions towards the EU, potentially including the introduction of a common minimum trade tariff of 10%.
One of Trump’s informal economic advisers said the former president is using trade and tariffs tactically in negotiations to force EU states to act in US interests. This was clearly evident when Trump demanded that NATO allies allocate more money for military needs. Much will depend on what the European Union does to reduce tariffs on American goods, according to Trump’s informal adviser.
Under Trump’s presidency, the United States introduced tariffs on imports of steel and aluminum products from the European Union in 2018 – 25% and 10% respectively, which is equivalent to 6.4 billion euros per year. The EU has imposed retaliatory “rebalancing” duties on imports of various goods from the United States worth 2.8 billion euros.
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