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European Union 'possibly as bad as China' on trade with US, Trump says

European Union 'possibly as bad as China' on trade with US, Trump says

According to a report in the Financial Times, a letter sent by the European Commission to the US Department of Commerce says the EU could hit $300 billion - the equivalent of well over R4 trillion - of US goods with tariffs, if Trump follows through on his threats to place big taxes on European vehicles being imported in the US.

The document also said that European vehicle makers in the USA make about 2.9 million cars per year, accounting for 120,000 jobs directly involved in the manufacturing process, or 420,000 jobs if non-direct roles such as auto parts production and retailers are included. "It's awful what they do to us".

The White House has already imposed tariffs on European Union steel and aluminium and faced reprisals in the form of extra charges on a range of goods, including US-made motorcycles, jeans and even playing cards.

He did, however, double down on Sunday, saying in an interview with Fox News that: "The European Union is possibly as bad as China, just smaller". "Look what they do to our farmers. They treat us very unfairly". The tariff which will apply to parts imported from China - circuit boards and "associated components" eg pretty much all of the electrical components many manufacturers in the U.S. use to source their parts will come into force on July 6th, as part of a wider set of tariffs including those from the EU.

EU officials also said around 60-percent of US -made cars of European brands are exported into third countries, which benefits the USA economy.




The European Union has reportedly threatened to retaliate against US President Donald Trump in the escalating trade conflict developing across the Atlantic.

USA stocks closed higher Monday after a last-minute market rally erased the losses from a daylong slump.

European Commission spokesman Margaritis Schinas said the US investigation into the possibility of auto tariffs "lacks legitimacy, factual basis and violates global trade rules", just like last month's USA tariffs on steel and aluminum imports.

The European auto industry in the United States supports some 120,000 jobs in its factories that are mainly in the southern region of the country. On Sunday, Canada started imposing tariffs on billions of dollars of USA goods in response to the Trump administration's duties on Canadian steel and aluminum.

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