Trump Says He'll Weigh Europe Auto Tariffs Without Trade Deal

Marco Green
January 23, 2020

The US President had also empowered the US Trade Representative (USTR) to take punitive actions if advanced economies were found taking inappropriate benefits of the WTO loopholes.

Xi Jinping made his damning assessment of President Trump's policy at the World Economic Forum in Davos, 2017.

"Look, if we don't get something, we'll have to take action and the action will be very high tariffs on cars and other things that come into our country, " Trump said.

US President Donald Trump attempted to assure American farmers and ranchers that were hit by the tariff war with China, that the trade agreement he signed with Beijing will lead to major agricultural products from the US.

After a meeting with European Commission President Ursula von der Leyen in Davos, Trump said he had "very good" talks but maintained that if a deal was not struck, Washington would strongly consider auto tariffs.

The president has been talking up the issue for months.

Hogan last week also warned that the European Union was looking at a deal signed by the US and China on January 15 that foresees an increase in imports of American goods and services by $200 billion over the next two years.

With farmers and ranchers reacting with mixed reviews on the current situations, the US President went on to remind the farmers and ranchers that he had gained passage by Congress of a new trade deal with Mexico and Canada, that would be replacing the 1994 North American Free Trade Agreement.

Trump mostly answered questions about his impeachment trial, which got underway at the US Senate on Tuesday night, dismissing it as a "total hoax". They have to. They have no choice. Trump has long accused Europeans of gaining an unfair trade advantage and is seeking to narrow the trade gap by revising the existing trade arrangements. I'm- always like to be very transparent.

"I didn't want to do that again while I was doing China", he explained. "And I told them, we can't do it anymore".

He claimed that he had restrained himself so far because he was concluding the recent trade deal with China first.

According to the National Bureau of Economic Research, the trade war affected Republican candidates in 2018 congressional election in counties "more exposed to trade retaliation". "Roberto and I have a tremendous relationship and we are going to do something".

However, he added that while European carmakers are commonly used as a proxy for trade tensions with the USA, the risk that they won't be able to curb emissions in time to abide by new EU rules was also weighing on on the sector.

Treasury Secretary Steven Mnuchin said these deals could boost the US economy this year and that growth would outperform projections, including those by the International Monetary Fund.

Other reports by Click Lancashire

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