Photo: AFP
US President Donald Trump has finally rejected the idea of a new trade deal with the European Union, saying that America will impose 50 per cent duties on European goods instead of negotiations. Politico reports, citing the US leader’s statement during a speech in the Oval Office.
“I’m not looking for a deal. We have a deal – it’s 50 per cent,” Trump told reporters clearly. According to him, it’s time to “play the game the way I know how”.
This is the next stage of escalation in relations between the world’s two largest economic blocs. The United States and the European Union have one of the deepest trade and investment relationships in the world, but negotiations on a new agreement have been stalled in recent months.
Brussels has already warned that the EU is ready to respond to Washington’s aggressive trade measures. European leaders are demanding a fair and mutually beneficial agreement and view the ultimatum duties as an unfriendly move.
Earlier, EU Trade Commissioner Maroš Šefčovič said that the EU is seeking an agreement “based on respect, not threats”. At the same time, member states are already discussing packages of mirror tariff measures in case the US implements a new customs regime on 1 June.
Trump’s position is yet another confirmation of his administration’s aggressive economic policy under the slogan “America First”, even at the cost of a possible trade confrontation with strategic partners.
