US President Donald Trump has warned of slapping levies on the European Union with ideas for a 10 per cent work on Chinese goods, starting on 1 February.
Speaking at the White House a moment after he was sworn in as the President, Trump argued that the steps are necessary to address business inequities and fight fentanyl prostitution.
‘You doesn’t get justice unless you do that ’
” They treat us very, very seriously. So they’re going to be in for levies,” Trump accused the EU.
” You didn’t find justice unless you do that. “
Earlier, Trump also targeted the Union for indulging in unfair business practices alleging that the latter did not buy enough American goods, in response to which, he would be imposing tasks or need for increasing oil and gas purchases to ‘straighten that up. ’
Turning to China, Trump linked his tax threat to the country ’s alleged role in fentanyl trafficking, which he claimed was fuelling improper activity in Mexico and Canada.
“Probably February 1st is the time we’re looking at, ” he stated when asked about the timeframe for implementing the 10 per cent work.
Recently ,during his campaign, Trump had threatened to impose levies of up to 60 per cent on the Eastern big.
On Monday, he even talked about a call conversation with Xi Jinping, “The visit was a very good one for both China and the USA. It is my desire that we will address many issues up, and starting soon. We discussed balancing Trade, Fentanyl, TikTok, and many other disciplines. ”
The US president once again brought up the price matter, on Tuesday, threatening to implement possible 25 per share tariffs on key trade partners Canada and Mexico, alleging that the two nations failed to curb illegal immigration and the movement of fentanyl into the US.
European Union’s response
EU economy commissioner Ursula von der Leyen expressed readiness to negotiate with Washington while highlighting that Europe would stand firm in protecting its interests.
Speaking at the World Economic Forum in Davos, von der Leyen said, “We will be pragmatic, but we will always stand by our principles, to protect our interests and uphold our values. ”
Tariff policies under Trump 2. 0
On Monday, Trump also signed an executive order directing US agencies to review trade practices, deficits, and currency manipulation, signalling a broader shake-up of the country ’s trade policies.
” Tariff and tax foreign countries to enrich our citizens,” he said.
The investigations could pave the way for additional tariffs, further unsettling global markets.
While Europe appears most concerned about Trump’s trade agenda, a survey by the European Council on Foreign Relations suggested countries like Brazil, India, and Turkey are optimistic about his potential impact on their economies and global peace.
