Europe will retaliate in the event of US president Donald Trump's import tax on cars shipped from Europe, France's economy minister Bruno Le Maire warned.
Last week, the European Union slapped a 25% tariff on US-made goods worth €2.8 billion in response to US duties on steel and aluminum imports. The EU will hit back with tariffs on about 200 categories of American goods. Meanwhile, US president threatened to impose a retaliatory tax on car imports from the European Union.
“While we do not wish to enter into a merciless trade war, we cannot sit idly while the bloc is hit with unfair tariffs. The European Union is determined to affirm its economic sovereignty,” Mr Le Maire said. The EU countries also oppose US sanctions that will affect European companies that continue business with Iran after the US pulled out of the 2015 Iran nuclear deal.
According to Bruno Le Maire, Donald Trump’s aggressive measures force the European states to unite, making them more stable to negative consequences. He stressed that the cooperation of France and Germany, the two largest European economies, is of great importance for the world economy, while the American president seeks to weaken the countries of Europe.
