Trump Threatens to Impose Tariffs on European Cars
Trade tensions heat up as president vows to penalize EU if it retaliates against U.S. metals duties
.. “They make it impossible for our cars (and more) to sell there. Big trade imbalance!”
.. Imposing a tax on the imports of European cars would be more difficult than Mr. Trump’s tweet suggests.
.. The European Union’s executive arm responded Friday that it would retaliate against any metals tariffs, saying it had put together a package of penalties that would affect a total of $3.5 billion in U.S. exports, including Harley-Davidson motorcycles, bourbon and denim.
.. “I don’t like to use the word ‘trade war,’ but I can’t say how this wouldn’t be warlike behavior.”
.. Mr. Trump has raised the prospect of taxing European cars before. In January 2017, he threatened impose a 35% import tariff on exports by German auto companies from Mexican plants to the U.S., singling out BMW AG, the Munich-based maker of luxury sedans and sport-utility vehicles.
“I would tell BMW if they want to build cars in Mexico and sell in the U.S.A. without a 35% tax, they can forget it,”