10/16/2019, 7:42 PM (Source: TeleTrader)
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Trump: US can't lose tariff war with EU

The United States cannot lose a tariffs war with the European Union because the trade balance between the two countries is so great, US President Donald Trump said on Wednesday. Trump pointed out that the US sells much fewer products in the EU than European countries sell in the US.

Trump criticized the EU over "monetary" and "non-monetary restrictions" on US products, especially pointing out that it is difficult for US farm products to enter the EU market. He said the outgoing Commission President Jean-Claude Juncker has been "brilliant" in putting EU goods at an advantage over US products, but he stressed that he plans the positions will change soon. The US president also said that US cars have a too difficult time entering the EU while the EU imports BMW, Volkswagen, Mercedes and Renault vehicles into the US in large quantities.

However, Trump pointed out that he hopes to reach a trade deal with the EU and avoid imposing $7.5 billion in tariffs on EU products that Washington had announced following a WTO ruling.

Baha Breaking the News (BBN) / VP