The European Union’s (EU) top trade representative on Friday said the bloc is ready to hit back if President TrumpDonald TrumpHarris stumps for McAuliffe in Virginia On The Money — Sussing out what Sinema wants Hillicon Valley — Presented by Xerox — The Facebook Oversight Board is not pleased MORE decides to slap tariffs on cars and car parts.
EU Trade Commissioner Cecilia Malmström said member nations’ trade representatives had discussed the body’s trade relationship with Washington at an informal meeting in Bucharest, according to The Associated Press.
Malmstrom said there were concerns regarding “certain aspects of the trade policy being pursued by the current U.S. administration,” but that “there is full support” behind an effort to implement “rebalancing measures” if Trump implements the tariffs.
The EU also warned the White House against more tariffs earlier this week, saying, “the European Commission would react in a swift and adequate manner.”
The talks come after Commerce Secretary Wilbur RossWilbur Louis RossBannon's subpoena snub sets up big decision for Biden DOJ House panel, Commerce Department reach agreement on census documents China sanctions Wilbur Ross, others after US warns of doing business in Hong Kong MORE presented Trump with a report examining whether imported vehicles pose a national security threat. The president now has 90 days to decide whether he will act on the document.
The Commerce Department did not clarify what its findings were or specify any of its recommendations when it announced the report had been filed. The agency began probing the impacts of imported cars last May under a section of trade law on which the White House based its previous steel and aluminum tariffs against the EU.
Trump reportedly proposed implementing a 25 percent levy on imported cars last year, which would amount to roughly $200 billion. He’s suggested that his ultimate decision will hinge on if Washington and the EU are able to reach a wide-ranging trade deal in the coming months.
Trump cast himself during the campaign and in the White House as a staunch opponent of existing trade deals and opened up trade wars on various fronts, including with China, Canada, Mexico and the EU.
“Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking? Are we just going to continue and let our farmers and country get ripped off? Lost $817 Billion on Trade last year. No weakness!” he tweeted in July.
Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking? Are we just going to continue and let our farmers and country get ripped off? Lost $817 Billion on Trade last year. No weakness!— Donald J. Trump (@realDonaldTrump) July 25, 2018