US President Donald Trump has hinted that the European Union (EU) could be next to face tariffs after he slammed 25% levies on goods from Mexico and Canada and an additional 10% tax on imports from China.
While landing in Maryland from Florida, Trump told the BBC that taxes on EU goods coming into the US could be implemented “pretty soon.”.
“They don’t take our cars, they don’t take our farm products, they take almost nothing, and we take everything from them. Millions of cars, tremendous amounts of food and farm products,” he told journalists.
The US President stated that he had good contacts with British Prime Minister Sir Keir Starmer and that trade concerns with the UK could be resolved.
When asked by the BBC if there was a schedule for placing tariffs on the European Union, Trump answered, “I wouldn’t say there’s a timeline, but it’s going to be pretty soon.”
For its part, the 27-member EU has slammed Trump’s decision to impose tariffs on Canada, Mexico, and China, warning that it will “respond firmly” if it is also targeted.
Mexico and Canada have threatened retaliation, while China has stated that it may take “corresponding countermeasures.”.
On trade with the UK, Trump said the country has been “out of line” but added that the issues could be resolved.
“The UK is out of line. But I’m sure that one, I think that one, can be worked out,” Trump said.
He also discussed his relationship with the British prime minister, who he said has been “very nice.”.
“We’ve had a couple of meetings. We’ve had numerous phone calls. We’re getting along very well,” he added.
Last week, British Business Secretary Jonathan Reynolds told the BBC that the UK should be excluded from any tariffs, pointing out that the US does not have a goods trade deficit with the UK, which occurs when a country imports more than it exports.
Tariffs are a key component of Trump’s economic policies. He sees them as a method to stimulate the US economy, protect jobs, and increase tax income.
However, many economists worry that these tariffs may raise prices for American consumers and eventually drive other countries to diminish their reliance on the United States.
