Trump threatens big tariffs on car imports from EU if no trade deal struck - CNBC




  • In Politics
  • 2020-01-22 11:57:45Z
  • By Reuters
2020 World Economic Forum in Davos
2020 World Economic Forum in Davos  

DAVOS, Switzerland (Reuters) - U.S. President Donald Trump on Wednesday threatened to impose high tariffs on imports of cars from the European Union if the bloc doesn't agree to a trade deal.

Trump has previously made threats to place duties on European automobile imports, with the intent of receiving better terms in the U.S.-Europe trade relationship. Trump has delayed imposing the tariffs a number of times.

"I met with the new head of the European Commission, who's terrific. And I had a great talk. But I said, 'look, if we don't get something, I'm going to have to take action' and the action will be very high tariffs on their cars and on other things that come into our country," Trump told CNBC's Joe Kernen in an interview from the World Economic Forum in Davos, Switzerland.

Former German Defence Minister Ursula von der Leyen succeeded Jean-Claude Juncker at the end of 2019 as the EU's top official, becoming the first woman to hold the post.

The United States has also threatened duties of up to 100% on French goods, from champagne to handbags, because of a digital services tax that Washington says harms U.S. tech companies.

Trump told CNBC that the European Union had to make a deal on trade. "They have no choice," Trump said.

In a separate interview in Davos with Fox Business News, Trump said the tariffs on EU cars could amount to 25%.

"Ultimately it will be very easy because if we can't make a deal, we'll have to put 25% tariffs on their cars," Trump told Fox Business' Maria Bartiromo in an interview https://www.foxbusiness.com/politics/trump-says-tax-cuts-health-care-and-trade-deals-are-ahead.

The United States struck a Phase 1 trade deal with China in January, soothing some of the worries which have hampered the world economy in recent time.

Asked if a trade pact with Britain could come next, Trump told CNBC he was ready to make a deal with British Prime Minister Boris Johnson.

"Boris and I are friends, and he wants to make a deal, and that's ok with me," he said.

Britain is due to leave the EU at the end of January, the Johnson has stated that one of the main advantages of being outside the bloc would be the ability for Britain to negotiate its own trade deals, including with the United States.

"We're starting. We've already started negotiating" with Britain, Trump said.


(Writing by Toby Chopra; Editing by Jon Boyle)

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