Trump says EU ‘in for tariffs’, warns of 10pc rate on China

AFP, Washington :

US President Donald Trump pledged Tuesday to hit the European Union with tariffs, adding that a 10 percent duty on Chinese imports could also come as soon as February 1.

Trump, who was speaking to reporters at the White House a day after being sworn in, cited the need to rectify the EU’s trade imbalances with the United States while taking aim once again at Beijing over fentanyl trafficking.

“They treat us very, very badly. So they’re going to be in for tariffs,” Trump said of the EU. “You can’t get fairness unless you do that.”

A day earlier, Trump accused the bloc of not importing enough American products, saying he would “straighten that out” by imposing duties or by urging for more oil and gas purchases.

Regarding China, Trump on Tuesday reiterated his threat to impose a 10 percent tariff, saying it was “based on the fact that they’re sending fentanyl to Mexico and Canada.”

When asked how soon these tariffs could be enacted, he added: “Probably February 1st is the date we’re looking at.”

This was the same date he earlier said he could impose 25 percent tariffs on Canada and Mexico, accusing them of failing to stop illegal immigration and fentanyl trafficking into the United States. Mexico, Canada and China are leading sources for goods imported by the United States, according to official trade data.

Beijing on Wednesday vowed to defend its “national interests” in response to Trump’s threats.
“We have always believed that there are no winners in a trade war or a tariff war,” foreign ministry spokeswoman Mao Ning said.

She added Beijing was “willing to maintain communication with the US, properly handle differences, expand mutually beneficial cooperation, and promote the stable, healthy, and sustainable development of China-US relations”.

The EU’s economy commissioner also vowed this week that the bloc stands ready to defend its interests.

Speaking at an annual meeting of global elites in Davos, Switzerland, EU chief Ursula von der Leyen declared that Europe was ready to negotiate with Trump, while maintaining that Washington remains an important partner.

The EU’s “first priority will be to engage early, discuss common interests, and be ready to negotiate” with Trump, she said.