Trump announces shocking 25%tariffs on EU products!

Trump announces shocking 25%tariffs on EU products!

President Donald Trump made an alarming announcement at his first cabinet meeting in the White House: Customs of 25 percent are to be charged for products from the European Union. "We will announce that very soon, and there will be 25 percent," said Trump. This affects both cars and other goods from the EU and, according to the information of the Krone in early April. Trump continues to pursue his aggressive customs policy, which is primarily intended as an answer to "unfair" trade practices from the EU countries.

The USA has already imposed similar tariffs from Canada and Mexico goods, which visualizes a clear trend in Trump's trade strategy. The President also emphasized that the United States will introduce reciprocal tariffs if other countries such as the EU raise tariffs on US products. "If you impose a customs or a tax on us, we will impose exactly the same amount of customs or tax for you, it is so simple," he said last week while signing a corresponding memorandum.

EU reacts quickly and determined

In the run -up to the impending tariffs, the EU has already announced a “determined and quick” reaction. EU trade commissioner Maros Sefcovic said that "no other choice" than react to the possible punitive tariffs from the United States. According to the statements of the Kleine Zeitung could be significantly burdened. Experts fear that these developments will have long -term negative effects on economic relationships between the USA and the EU.