Trump Floats More Tariffs on EU, Canada If They Work Against US

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President Donald Trump suggested further tariffs would be imposed on the European Union and Canada if they worked together “to do economic harm” to the US. 

In a late night Truth Social post, Trump said large-scale tariffs “far larger than currently planned” would be placed on them in such a scenario. The euro briefly pared a small gain and the Canadian dollar dipped. 

“If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” Trump posted. 

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Trump signed an order on Wednesday imposing a 25% tariff on auto imports, escalating a trade war designed to bring more manufacturing jobs to the US. The move sets the stage for more tariff actions next week, including promised so-called reciprocal tariffs on April 2, potentially deepening tensions with key trading partners. Other industry-specific tariffs are also in the works, including on lumber, semiconductors and pharmaceutical drugs. 

The EU is preparing countermeasures in response. France has urged the European Commission to consider using its toughest trade weapon — the anti-coercion instrument – for the first time, Bloomberg reported earlier.

Trump’s latest comments come after Canadian Prime Minister Mark Carney visited France and the UK last week on his first foreign trip to pitch a closer alliance with European allies. 

“I want to ensure that France and the whole of Europe works enthusiastically with Canada, the most European of non-European countries,” Carney said in Paris.

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