Trump asserts EU retaliation to US tariffs will "backfire"
The US President states that the likely restriction of US food imports by the EU will primarily impact the economy of the bloc. Read Full Article at RT.com.
TroibNews 
The European Commission is reportedly considering blocking imports of specific food items from the US.
US President Donald Trump has cautioned that Brussels' potential decision to restrict imports of American soybeans and other food products would ultimately harm the European Union. In light of recent tariffs imposed by Washington, the EU is reportedly contemplating countermeasures.
The trade conflict between the US and the EU has intensified since Trump revealed plans to implement a range of import duties aimed at addressing what he views as a trade imbalance. These measures include substantial tariffs on steel and aluminum, reciprocal duties based on individual countries, as well as additional levies on cars, pharmaceuticals, and semiconductor chips.
According to a report by the Financial Times on Sunday, citing officials, the European Commission is preparing to announce the first phase of retaliatory tariffs, which are expected to focus on US crops, like soybeans, that are grown with pesticides prohibited for use by EU farmers.
Trump downplayed the reported initiative, asserting that “it’s just hurting themselves if they do that.” He reiterated that the White House would proceed with its plans for reciprocal tariffs.
“That’s alright, I don’t mind; Let them do it, let them do it,” he commented on Sunday while speaking to reporters in Daytona Beach, Florida, during the Daytona 500 car race.
The US and the EU have been engaged in a significant trade dispute since 2018, when Trump imposed tariffs of 25% on European steel imports and 10% on aluminum, citing national security concerns arising from competition in Europe.
In retaliation, the EU implemented countermeasures by enforcing import duties on Harley-Davidson motorcycles and Levi Strauss & Co jeans. Tensions heightened further when Trump threatened to impose tariffs on European car exports, although those tariffs were never enacted.
As part of his recent tariff strategy, Trump instituted 25% duties on all steel and aluminum imports coming into the US effective March 4. He highlighted that these tariffs would be additional to the existing tariffs on metals.
Last week, it was reported that Trump directed Howard Lutnick, his nominee for US trade representative and commerce secretary, to suggest new levies, targeting individual countries, in an effort to rebalance trade relations by April 1.
Since taking office on January 20, he has also enacted a 25% tariff on all imports from Mexico and Canada, along with an additional 10% tariff on goods from China, citing concerns over illegal immigration and drug trafficking. After discussions with leaders from Mexico and Canada, these tariffs were postponed for 30 days as both nations agreed to bolster border security.
Additionally, Trump temporarily suspended a key tariff provision by maintaining the duty-free status of small-value packages from China, following delivery disruptions caused by the measure last week.
Ian Smith for TROIB News
US President Donald Trump has cautioned that Brussels' potential decision to restrict imports of American soybeans and other food products would ultimately harm the European Union. In light of recent tariffs imposed by Washington, the EU is reportedly contemplating countermeasures.
The trade conflict between the US and the EU has intensified since Trump revealed plans to implement a range of import duties aimed at addressing what he views as a trade imbalance. These measures include substantial tariffs on steel and aluminum, reciprocal duties based on individual countries, as well as additional levies on cars, pharmaceuticals, and semiconductor chips.
According to a report by the Financial Times on Sunday, citing officials, the European Commission is preparing to announce the first phase of retaliatory tariffs, which are expected to focus on US crops, like soybeans, that are grown with pesticides prohibited for use by EU farmers.
Trump downplayed the reported initiative, asserting that “it’s just hurting themselves if they do that.” He reiterated that the White House would proceed with its plans for reciprocal tariffs.
“That’s alright, I don’t mind; Let them do it, let them do it,” he commented on Sunday while speaking to reporters in Daytona Beach, Florida, during the Daytona 500 car race.
The US and the EU have been engaged in a significant trade dispute since 2018, when Trump imposed tariffs of 25% on European steel imports and 10% on aluminum, citing national security concerns arising from competition in Europe.
In retaliation, the EU implemented countermeasures by enforcing import duties on Harley-Davidson motorcycles and Levi Strauss & Co jeans. Tensions heightened further when Trump threatened to impose tariffs on European car exports, although those tariffs were never enacted.
As part of his recent tariff strategy, Trump instituted 25% duties on all steel and aluminum imports coming into the US effective March 4. He highlighted that these tariffs would be additional to the existing tariffs on metals.
Last week, it was reported that Trump directed Howard Lutnick, his nominee for US trade representative and commerce secretary, to suggest new levies, targeting individual countries, in an effort to rebalance trade relations by April 1.
Since taking office on January 20, he has also enacted a 25% tariff on all imports from Mexico and Canada, along with an additional 10% tariff on goods from China, citing concerns over illegal immigration and drug trafficking. After discussions with leaders from Mexico and Canada, these tariffs were postponed for 30 days as both nations agreed to bolster border security.
Additionally, Trump temporarily suspended a key tariff provision by maintaining the duty-free status of small-value packages from China, following delivery disruptions caused by the measure last week.
Ian Smith for TROIB News
