After raising taxes on imported goods from China on May 10, Mr. Trump may target the EU, when he plans to make decisions on the car products of this group next week.
After raising taxes on US $ 200 billion of goods imported from China from May 10, US President Donald Trump may target the next European Union (EU), when he plans to offer decision for the car of this block next week.
Earlier, in February, President Trump received a report investigating that imported cars and car parts are threatening national security. President Donald Trump’s 90-day consideration period will end on May 18.
Automakers anticipate President Trump will extend this time by up to six months, although he may still set a new taxation date if the US fails to reach an agreement with the EU and Japan.
Last month, the EU agreed to launch formal negotiations with the US, especially on the issue of tariff reductions on industrial goods. But if Washington takes new trade restrictions, the negotiations will be suspended and the European Commission (EC) will tax 20 billion euros (about $ 22.46 billion) of goods.
The European Central Bank (ECB) has long held that trade protection is the biggest threat to the economy of the Eurozone (Eurozone), when the decline in confidence will encroach upon The push from exports to other markets outside the US.
Europe is also negotiating with the US and Japan to re-establish global trade regulations to limit subsidies and forced technology transfer, with the goal of clearly targeting China.
Automobile taxes will not make Tokyo rush to Beijing’s side, but will undermine these efforts. Therefore, Mr. Guntram Wolff, Director of Bruegel organization, said that President Trump will not make himself difficult by making it difficult for Europe.
The European Union has warned the United States of the
imposition of import duties on cars and car parts that could harm the country’s
auto industry. In addition, the application of taxes is likely to lead to
retaliatory measures from EU which are export partners worth up to US $ 294