President Trump said Wednesday during his first Cabinet meeting that the European Union was formed to take advantage of the United States and his administration soon will be announcing tariffs of 25% on the 27-nation bloc.
This from newsmax.com.
Trump was speaking to reporters in a meeting aired live on Newsmax and the Newsmax2 online streaming platform about a further delay in implementing 25% tariffs on Canada and Mexico from March 4 to April 2 as his administration reviews the border nations’ efforts to stem the flow of migrants and fentanyl into the U.S.
He was then asked about whether a decision has been made about what level of tariffs the U.S. will enforce on EU goods to balance a $235.6 billion trade deficit with the economic and political bloc.
The President said:
We have made a decision and we’ll be announcing it very soon, and it will be 25%, generally speaking, and that will be on cars and all other things.
And the European Union is a different case than Canada, a different kind of case. They’ve really taken advantage of us in a different way.
Further:
They don’t accept our cars; they don’t accept essentially our farm products. They use all sorts of reasons why not. And we accept everything of them. And we have about a $300 billion deficit with the European Union.
And:
Now, I love the countries of Europe. … I love all countries, frankly, all different. But the European Union was formed in order to screw the United States.
I mean, look, let’s be honest, the European Union was formed in order to screw the United States. That’s the purpose of it. And they’ve done a good job of it. But now I’m president.
Trump concluded:
The EU can try to initiate retaliatory tariffs, but it won’t be successful because we [will] just go cold turkey. We don’t buy [from them] anymore. And if that happens, we win.
