Shafaq News/ On Sunday, German Chancellor OlafScholz said that Europe would respond collectively if the United Statesreintroduces tariffs on steel and aluminum.
At the opening of the Hanover industrial tradefair, Scholz said Europe still seeks cooperation with the United States butwarned that the bloc would retaliate if forced to. “Europe’s goal remainscooperation,” he said. “But if the US leaves us no choice, such as with thetariffs on steel and aluminum, we as the EU will react as one.”
Responding to US President Donald Trump’s pastcomments referring to Canada as the “51st U.S. state,” Scholz remarked, “Westand by your side! Canada is not a state that belongs to anyone else. Canadais a proud, independent nation.”
Scholz also rejected protectionist approaches,saying his answer to “my country first” policies was “more free trade, greatercompetitiveness and more technological sovereignty.”
“Europe is not naive, but we are also notweak,” he added, warning that trade wars “hurt all sides.”
Trump has been enforcing trade tariffs onnearly every country. White House trade adviser Peter Navarro said that Trump’splanned tariffs would generate more than $6 trillion in federal revenue overthe next decade — a projection that some analysts warned would mark the largestpeacetime tax increase in modern US history.
In an appearance on Fox News, Navarro said theadministration’s tariffs on auto imports, due to take effect Wednesday, wouldbring in $100 billion annually. An additional package of yet-to-be-unveiledtariffs, he said, would generate $600 billion per year, totaling $6 trillionover ten years.
Navarro’s comments raised concerns that Trumpmay be preparing sweeping new trade measures for Wednesday, which he hasdescribed as “Liberation Day.” He did not clarify whether the figuresrepresented official White House policy or one side of an internal debate.
Read More Details
Finally We wish PressBee provided you with enough information of ( EU to US: Tariffs mean backlash )
Also on site :
- The Beths Announce North American Tour Dates Alongside New Single, ‘Metal’
- Child Damages $56 Million Rothko Painting in Rotterdam Museum
- Four dead after car crashes into after-school camp in US state of Illinois