- No dates have been specified for these tariffs.
- This is not the first time that he threatens tariffs on European cars.
It was at the annual meeting of the World Economic Forum in Davos, Switzerland, that President Trump once more brought up the possibility of putting duties on European automobiles imported into the United States.
The now ominous threat was brought up following a meeting with European Commission President Ursula von der Leyen where, if a fair deal is not struck, the White House will strongly consider applying the duties.
This comment, which was brought up on the sidelines and not in front of reporters, obviously upset European officials and car companies. Oddly, the potential 25% tariffs were brought up even though Trump said that the talks with the European Commission President had been “very good.”
Many trade deals have recently been concluded under the threat of tariffs, namely with China, Canada and Mexico. As well, the European manufacturing sector suffered a recession last year which is in large part forcing EU officials to agree to a deal with Trump before long.
No tentative dates or deadlines were mentioned and it is possible that these tariffs may never be put into action. That is, if Trump gets what he calls a fair deal.
Source: CNBC
