The United States plans to introduce 25% tariffs on goods imported from the European Union in the near future. This was announced by U.S. President Donald Trump on Wednesday, February 26.
According to him, the EU was originally created with the aim of harming the U.S. economy.
Let’s be honest: the European Union was formed to make life difficult for the United States, and it has done an excellent job of that, the American leader added.
Currently, the EU imposes a 10% tariff on passenger car imports, which is four times higher than the U.S. tariff of 2.5%, Reuters notes. Additionally, Washington is dissatisfied with the VAT rates in EU countries, which stand at 17.5% or higher.
The European Union has rejected Trump’s criticism. A representative of the European Commission, responding to a request from AFP and Reuters, stated that the EU is the world’s largest free market and benefits the U.S. economy.
The EU representative also called for cooperation, emphasizing that the European market facilitates trade, reduces costs for American exporters, and harmonizes standards across the 27 EU member states.
