President Trump on Saturday again defended his position on trade tariffs and threated to "apply a tax" on European cars.
President Trump on Saturday continued to defend his recent remarks about imposing tariffs on steel and aluminum imports. Furthermore, he threatened the European Union with taxes on cars imported to the U.S.
"If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!" Trump wrote on Twitter.
His tweet comes after the New York Times reported on the potential ramifications of Trump's tariff announcement on Thursday.
"The European Union will hit back at the heart of the United States, slapping tariffs on products like Harley-Davidsons, Kentucky bourbon and bluejeans, if President Trump goes ahead with a plan to place tariffs on steel and aluminum imports, the president of the bloc's executive arm vowed on Friday," the Times noted.
Despite widespread criticism and a steep stock market drop over fears of a trade war, Trump has stood his ground on imposing tariffs.
"The United States has an $800 Billion Dollar Yearly Trade Deficit because of our 'very stupid' trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!" Trump wrote in another tweet on Saturday.
President Trump on Saturday continued to defend his recent remarks about imposing tariffs on steel and aluminum imports. Furthermore, he threatened the European Union with taxes on cars imported to the U.S.
"If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!" Trump wrote on Twitter.
His tweet comes after the New York Times reported on the potential ramifications of Trump's tariff announcement on Thursday.
"The European Union will hit back at the heart of the United States, slapping tariffs on products like Harley-Davidsons, Kentucky bourbon and bluejeans, if President Trump goes ahead with a plan to place tariffs on steel and aluminum imports, the president of the bloc's executive arm vowed on Friday," the Times noted.
Despite widespread criticism and a steep stock market drop over fears of a trade war, Trump has stood his ground on imposing tariffs.
"The United States has an $800 Billion Dollar Yearly Trade Deficit because of our 'very stupid' trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!" Trump wrote in another tweet on Saturday.
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