US Edition
Trump Threatens the European Union with 35% Tariffs if They Do Not Invest 600 Billion Dollars in the United States
UNITED STATES, AUG 5 – Trump demands the European Union invest $600 billion in US infrastructure to reduce a $350 billion trade deficit, threatening 35% tariffs if the commitment is unmet.
- President Donald Trump announced a preliminary US-EU trade deal last month setting a 15% tariff on most imports to avoid a trade war.
- The agreement stemmed from Europe’s pledge to channel $600 billion into the U.S. economy and to acquire $750 billion in energy supplies from America during Trump’s administration.
- Trump lowered tariffs to a blanket 15% rate but warned that if the EU fails to fulfill the $600 billion investment pledge, a 35% tariff will be reinstated.
- Trump stated, "they pay tariffs of 35%" on CNBC, while critics argued the agreement favors the US and called it lopsided.
- The agreement’s future is uncertain, as its enforcement relies on the willingness of private firms to follow through, and some European officials have voiced concerns regarding the potential effects of the deal.
76 Articles
76 Articles
Donald Trump and the European Union recently agreed on a trade deal that includes billions of investments in the US, but the US President does not seem to know what investments are and suddenly speaks of a "gift". If he doesn't get it, the EU is threatening the next customs club.
Confusion in Brussels over details of Trump tariff deal
Confusion continues to reign over the detail of an EU-US deal on trade tariffs, while US president Donald Trump has warned that the bloc could still face 35-percent tariffs if it fails to make good on an ambitious $600bn investment target.
In its customs deal with the US, the EU promised billion-dollar investments. US President Trump claims that his government can freely dispose of the money – and is already threatening further high tariffs.
US President Trump has described the $600 billion investment pledged by the EU under the Customs Agreement as a "gift." Trump said on CNBC that he could invest the European Union's money in whatever he wanted. If the EU did not comply with the pledge, he would impose customs duties of 35 percent.
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- 37% of the sources lean Left, 37% of the sources are Center
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