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Trump escalates trade war, threatens European carmakers with stiff tariffs
The Washington Post · Damian Paletta, Josh Dawsey President Donald Trump on Saturday threatened to hammer European automotive companies with steep tariffs as his global trade war snowballed into a third day. Trump, in a series of Twitter posts while at his Mar-a-Lago resort in Florida, appeared to be responding to warnings from European leaders that his promised tariffs on aluminum and steel would trigger retaliation from numerous major U.S. trading partners. Bring it on, Trump wrote. “If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!” Trump tweeted Saturday. The U.S. imposes a 2.5 percent tariff on the import of foreign cars and a 25 percent tariff on the import of foreign trucks and commercial vans. The European Union charges a 10 percent tariff on the import ...
