World Car News #Update
In a tweet on Saturday, president Donald Trump said: “If the EU wants to further increase their already massive tariffs and barriers on US companies doing business there, we will simply apply a Tax on their Cars which freely pour into the US.
“They make it impossible for our cars (and more) to sell there. Big trade imbalance!”
A second tweet decried the “$800 Billion Dollar Yearly Trade Deficit because of our ‘very stupid’ trade deals and policies”.
Mr Trump added: “Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!”
This reaction followed the realisation of the President to the fact that America wasn’t getting a fair deal off its trade with other countries and that She was losing billions of dollars in the process. The recommendation of the tariffs came in February from the US commerce department after conducting a review under rarely invoked national security regulations contained in a 1962 trade law.
Trump posits in another tweet that a trade war would be easy to win even though international response from bodies like WHO and IMF do not support his action plans.