Trump Issues Ultimatum to EU: "Tariffs Will Rise If Agreement Not Implemented by July 4"
Pressure on the EU to Fulfill 'Zero Tariff' Commitment on U.S. Manufactured Goods
U.S. President Donald Trump revealed on the 7th (local time) that he had a phone call with Ursula von der Leyen, President of the European Commission, and warned that tariffs on the European Union (EU) would be raised if the EU fails to implement the trade agreement.
President Trump stated on the social networking service Truth Social that “I have agreed to allow time until the 250th anniversary of U.S. independence, and if the agreement is not implemented by then, EU tariffs will soar to much higher levels.”
In July of last year, the United States agreed with the EU to lower tariffs on most EU imports, such as automobiles, from 30% to 15%, in return for the EU reducing or eliminating tariffs on U.S. manufactured goods in Europe. At that time, the EU announced that it would effectively lower tariffs on U.S. manufactured goods to ‘zero level’.
President Trump said, “I have waited patiently for the EU to fulfill their share of the historic trade agreement—the largest ever—that we agreed to in Scotland. The EU promised, according to the agreement, to fulfill their obligations and lower tariffs to ‘zero’.”
Hot Picks Today
"It's Not Just Hot"... First-Ever 'Extreme Heat Emergency Alert' Issued for Gyeongsan and Pohang
- "Just Two Days After the Chairman's Visit"... Lotte Injects Another 250 Billion Won 'Here'
- "Oh No, Suddenly Canceled?" A Must-Read for Devastated Fans: The Ultimate Insurance to Protect Your Money [Sunday Culture]
- Fled in Fear After the Crash... Is It Time for Individual Investors to Re-enter Samsung and SK Hynix? [Weekend Money]
- "I Don't Want to Drink Alcohol," They Said... But 'This' Sold at One Can Every 2 Seconds: 4 Million Cans in 100 Days [The Way We Shop Now]
President Trump also stated, “We discussed a number of issues, including the fact that Iran must never possess nuclear weapons, and we were in complete agreement. We agreed that a regime that kills its own people should never be allowed to control bombs capable of killing millions.”
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.