Trump's Tariff Threats: Will the EU Be His Next Target?

US President Donald Trump has alluded to the imposition of tariffs on European Union (EU) goods soon, following recent tariffs he placed on imports from Mexico, Canada, and China. Speaking during a visit to Maryland, Trump expressed his dissatisfaction with EU trade practices, emphasizing that the bloc imports very little from the US compared to the significant volumes the US imports from them. He criticized the EU for not taking more American cars and agricultural products, stating that the imbalance is unfair. While he indicated that there might not be a specific timeline for the tariffs, he suggested they could happen ‘pretty soon.’

In contrast to his stance on the EU, Trump affirmed that trade relations with the UK, under Prime Minister Sir Keir Starmer, are more amicable. He acknowledged that while the UK has been ‘out of line’ regarding trade, he believes these issues can be worked out. He noted their good communication and rapport through meetings and phone calls.

The 27-member EU bloc has reacted strongly against Trump’s tariffs on other nations, indicating a willingness to respond firmly if the US targets them next. Economists are concerned that these tariffs might raise consumer prices in the US and might provoke other countries to lessen their dependence on American goods. The UK has also expressed the desire to be exempt from new tariffs, citing that the US does not face a goods trade deficit with them, highlighting nuances in the US-UK trade relationship amidst broader tensions.