Wednesday, October 16, 2024

EU panic as Donald Trump threatens trade war and 2,000% tariff

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Donald Trump said the EU poses an economic threat to the USA and has threatened to impose tariffs of 2000 percent on foreign car imports.

The former President is eyeing another four years in the White House as election day fast approaches.

Recent polls show both Trump and his Democratic opponent, Kamala Harris, deadlocked as US citizens prepare to choose their next president.

Trump has increasingly been focusing on the economy in the run-up to the November election day.

A key plank of the Republican candidate’s economic agenda is the imposition of tariffs on imports in a bid to protect US industry and manufacturers.

He has vowed to slap up to 20 percent charges on all foreign imports if he wins.

The US was the largest partner for EU exports of goods in 2023 and as such is a key market for European businesses.

However, in an interview at the Economic Club of Chicago, Trump took aim at Brussels, warning the EU posed an economic threat to the US.

“You know what’s very tough?” he said. “The European Union — our beautiful European countries … They treat us so badly.”

He defended his plan to introduce tariffs, arguing that high import levies would encourage foreign companies to move their production to the US.

Trump has also threatened to impose tariffs of up to 60 percent on goods made in China and “100, 200, 2,000 percent” on foreign cars manufactured in Mexico or China.

Some of Europe’s biggest car manufacturers – such as Volkswagen, BMW and Mercedes – have plants in Mexico.

A recent poll for NBC News shows the presidential candidates in a dead heat.

The survey, which was conducted between October 4 and 8, gives both candidates 48 percent.

Another 4 percent say they are undecided or wouldn’t vote for either candidate.

That’s a change from September’s NBC News poll, which found Harris leading Trump by 5 points, 49 percent – 44 percent, though that result was within the margin of error.

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