The European Commission said Trump’s plans were “a step in the wrong direction” that heightened economic uncertainty and disrupted the efficiency of global markets.
Trump said Thursday he had decided to impose reciprocal duties, in a dramatic escalation of an international trade war he has unleashed since taking office in January.
The levies would be tailored to each US trading partner and consider the tariffs they impose on American goods, alongside taxes seen as “discriminatory,“ such as value-added taxes (VATs), a White House official said on condition of anonymity.
“Tariffs are taxes. By imposing tariffs, the US is taxing its own citizens, raising costs for business, stifling growth and fuelling inflation.”
Since taking office, Trump has announced a broad range of tariffs targeting some of America’s biggest trading partners, arguing that they would help tackle unfair practices -- and in some cases using the threats to influence policy.
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