President Trump threatens Canada with 35% tariffs
While President Trump said he was considering raising blanket tariffs for most trading partners, he threatened Canada with a 35% tariff.
WASHINGTON – The European Union has opened a new front in a fight against higher tariffs with President Donald Trump, warning that if the trade agreement has not reached by August 1, it could retaliate against the United States.
EU negotiators have been working for weeks to sign a contract with the Trump administration. In a statement on July 12, the Commission said it would continue to work towards a resolution.
“At the same time, we will take all necessary measures to protect the EU’s interests, including the adoption of proportional measures as necessary,” European Commission’s Ursula von der Reyen said in a statement.
The EU planned a plan for more than $24 billion in goods from the US in April after Trump delayed the tariff hike announced for 90 days in trade negotiations. However, after Trump announced the European Union’s 30% tariff on July 12, the 27-country block suggested it could retaliate in kind.
French President Emmanuel Macron was one of the European authorities pushing the committee to “decisively protect the interests of Europe.” in a statement saying negotiations must be strengthened.
“In particular, this means that if an agreement is not reached by August 1st, we will speed up the preparation of reliable measures by mobilizing all equipment, including anti-course, at will,” he wrote to X.
Italian Prime Minister Giorgia Meloni urged negotiating parties to continue to focus on deals and warned against the launch of a trade war.
“We trust the goodwill of all parties involved in reaching a fair agreement that can fully strengthen the West, especially in the current context, as it makes no sense to cause a trade war on both sides of the Atlantic,” the Italian government said. “Now it’s essential to stay focused on negotiations and avoid polarization that makes reaching an agreement even more complicated.”
In his letter to von der Reyen, Trump said that if Brock retaliates by raising your tariffs, whatever you choose to raise them, it will be added to the 30% we charge. He included similar language in letters he sent to about 20 other leaders this month.
