Republican presidential candidate Donald Trump stated that if re-elected, the European Union will have to “pay a big price” for not buying enough American exports, Reuters reports.
He made this statement during a campaign rally in Pennsylvania, where he promised to pass a “Trump Reciprocal Trade Act.”
Trump emphasized that the EU will face consequences for low imports of American cars and agricultural products, saying, “They don’t take our cars. They don’t take our farm products. They sell millions and millions of cars in the U.S. No, no, no, they’re going to pay a big price.”
The candidate pledged to introduce a 10% tariff on imports from all countries and a 60% tariff on imports from China, a move that would disrupt global supply chains and likely trigger retaliatory measures and increased costs.
Recently, reports indicated that German exports to the U.S. could drop by nearly 15% if Trump wins the November election, with the automotive and pharmaceutical sectors being the hardest hit.
Additionally, European diplomats are reportedly preparing to adjust sanctions against Russia, as Trump’s potential return to office could undermine Western efforts to isolate Moscow.
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