US President Donald Trump has threatened to impose 25 percent duties on all products from the European Union, which can lead to a serious aggravation of trade relations between the US and the EU. About it reports Financial Times.
According to Trump's statement, duties will affect not only European cars, but all other imports. He also sharply criticized the European Union, saying that this block "was created to harm the United States."
Financial Times journalists note that such statements increase the risk of a broad transatlantic trade war, which can have serious consequences for both American and European economies. In addition, the likely introduction of new duties can adversely affect the diplomatic relations between the United States and their traditional allies.
Under the threat of duties not only for the EU-Trump also intends to introduce a 25 percent fee for import goods from Canada and Mexico. In the White House, this decision is explained by the fight against illegal immigration and smuggling of fentanyl across the US borders.
This policy can seriously hit the economies of neighboring countries, as they are one of the largest trading partners of the United States. The introduction of duties can cause appropriate measures from Canada and Mexico, which will exacerbate the situation even more.
Trump's announcements have already started to influence the world markets. The most popular Bitcoin cryptocurrency has fallen below $ 90,000 for the first time in three months. Analysts have this collapse confirming Trump's plans for the introduction of new duties on imports from Canada and Mexico since March 4.
Against the backdrop of trade disputes escalation, the European Union also considers appropriate measures. In particular, Brussels plans to block the import of some foods produced according to other standards, which can be a response to US threats.
