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Trump threatens tariffs on EU cars

  

President Donald Trump has fueled trade war fears by pledging to impose tariffs of 20pc on imports of EU cars if trade barriers are not "broken down".
 
The EU on Friday brought into force extra taxes on flagship US goods such as Kentucky whiskey, Levi Jeans, and Harley Davidson motorcycles in response to Mr Trump's levies of 25pc on steel and 10pc on aluminium imports.
 
This latest tit for tat step marks a further stage of escalation in the mounting trade war between the US, its closest allies and China since Mr Trump ignited a trade conflict with metals levies.
 
Trump’s new threat comes after the EU imposed tariffs on a range of US consumer goods in response to steel and aluminium tariffs from the White House, which could increase the cost of consumer goods by £200m per year in the UK alone.
 
Should Trump carry through the levies, it would have damaging consequences for jobs and economic growth on both sides of the Atlantic. Leaders from American and European car manufacturers have previously said such measures would lead to net job losses in the US.

 
 

 

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