• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

VietMaz

Update Latest News from Vietnam

  • About Us
  • Disclaimers
  • DMCA
  • Submit your story
  • Privacy Policy
  • Contact Us
You are here: Home / EU ‘possibly as bad as China’ on trade: Trump

EU ‘possibly as bad as China’ on trade: Trump

July 1, 2018 by

Europe is “possibly as bad as China” on trade, US President Donald Trump said in an interview broadcast on Sunday (Jul 1), with trade wars emerging against both the Asian giant as well as longtime allies in Europe and Canada.

File photo taken on Jun 29, 2018, of US President Donald Trump speaking to the press aboard Air Force One in flight as he travels from Joint Base Andrews in Maryland, to Bedminster, New Jersey. (SAUL LOEB/AFP)

“The European Union is possibly as bad as China, only smaller,” Trump said on Fox News’ “Sunday Morning Futures” programme.

“They send a Mercedes in, we can’t send our cars in. Look what they do to our farmers. They don’t want our farm products. Now in all fairness they have their farmers … But we don’t protect ours and they protect theirs,” he said.

Trump had already threatened tariffs on cars imported from the European Union, in response to the EU’s retaliatory tariffs last week on iconic US products including bourbon, jeans and motorcycles.

The EU retaliation came after Trump’s administration on Jun 1 struck Europe as well as allies in Canada, Mexico and elsewhere with tariffs on aluminum and steel.

Canada’s retaliatory tariffs take effect on Sunday against American products including Florida orange juice, ketchup and Kentucky bourbon.

Canada and the US are among the world’s largest trading partners, with an estimated US$673.9 billion in goods and services exchanged in 2017, with the US scoring a small surplus (US$8.4 billion), according to US government data.

At Trump’s insistence, Canada, Mexico and the US are renegotiating the North American Free Trade Agreement.

“NAFTA, I could sign it tomorrow but I’m not happy with it. I want to make it more fair, OK?” Trump said, adding that he wants to wait until “after the election.”

Trump’s Republicans are fighting to retain control of Congress in November midterm elections.

In the interview the president again complained about Canada’s protected dairy industry, saying “that’s not fair.”

Against China, the world’s second-largest economy, the White House in mid-June announced stiff 25 per cent tariffs on Chinese imports, sparking immediate retaliation from Beijing.

Trump on Wednesday said he supported tougher restrictions on foreign investment in sensitive technology, as well as export controls on those goods, but he stopped short of imposing specific restrictions on China.

Asked about that decision, Trump said in the interview that he is not backing down on China tariffs.

“No, no, no, no,” he said, noting that more tariffs could be imposed if there is no deal with China.

“I will tell you, China wants to make a deal and so do I, but it’s got to be a fair deal for this country,” he said.

The US has complained about Chinese policies that Washington said either forced companies to relinquish key technology or allowed China to steal it outright.

The president announced 25 per cent import tariffs on hundreds of Chinese products to pressure the country to alter its practices. Those tariffs are due to take effect Jul 6.

That came on top of the tariffs on Chinese steel and aluminium that went into effect in late March – measures that prompted Beijing to slap punitive duties on 128 US goods, including pork, wine and certain pipes.

AFP

  • Asian markets tumble as China-US trade tensions rise
  • Donald Trump's many trade wars: A summary
  • China's tough trade rhetoric leaves talks with US in limbo
  • China entanglement will reduce PH to vassal status
  • Asia winces as trade war threat escalates
  • There’s a fatal flaw at the heart of Trump’s auto tariff strategy
  • News Global stocks mixed as trade tensions linger
  • Heading for clouds: Aviation sector faces trade turbulence
  • Trump’s looming auto trade battle is staggeringly pointless — but there’s a good chance he’ll win it
  • Asian shares mostly lower on easing of US-EU trade tensions

Filed Under: World News Donald Trump, China, Europe, Canada, Trade war, World News, asean china free trade agreement acfta, possible nba trades, trading economics china, possible trades nba, us china trade agreement, us china trade statistics, us china trade war, canada eu trade deal, trade canada china, myanmar china trade, free trade agreement eu, free trade china, free trade in china, free trade trump, trump about china, asean china trade, asean china trade statistics, eu vietnam free trade agreement, china on trump, indo china trade, china economy trade, trade trump, trump 301 china, china xi trump, why day trading is bad, china forex trading, china top trading partners, us china trade tariffs

Primary Sidebar

RSS Recent Stories

  • Int’l Fashion&Beauty Festival to star 100 child models
  • New film based on famous epic poem has contemporary twist
  • Over 300 firms to participate in HCM City machinery, supporting industry fairs
  • Four saved, two missing after fishing boat sinks
  • Vietnam captures 18 more golds, remains third
Copyright © 2019 VietMaz. Power by Wordpress.