Katrina Kamens, the Fox commercial contribution, joins the “The Big Money Show” to comment on the feelings surrounding the tariff plans that are looming on the horizon of President Donald Trump.
president Donald Trump On Thursday, he threatened early on the largest customs tariff for the European Union and Canada if both economists are working together to “the economic harm of the United States.”
The president warned: “If it is European Union It works with Canada to cause economic harm in the United States of America, and the customs tariff will be largely larger than it is currently, both, to protect the best friend of all of these countries! ”
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US President Donald Trump offers statements during the White House cabinet meeting on March 24, 2025, in Washington, DC. (Win McNamee / Getty Images / Getty Images)
This position comes after the president announced on Wednesday that he will impose a 25 % tariff on all imported cars.
The European Automobile Manufacturers Association (ACEA) issued a statement on Thursday saying it “is deeply concerned” by Trump’s announcement of additional definitions.
“European auto companies are investing in the United States for decades, creating job opportunities, enhancing economic growth in local communities, generating huge tax revenues for the American government,” ACEA General Manager, Sigrid de VRIES He said in a statement. “We urge President Trump to consider the negative impact of definitions not only on international car makers but also for American local manufacturing.”
President Trump sees customs duties as a way to bring Tax revenues To finance his plans for tax discounts while stimulating local manufacturing activation.
President Donald Trump signing executive orders that impose a 25 percent tariff on imported and aluminum steel as part of his ongoing efforts to reform the American trade relationship with the rest of the world. (Jabin Botsford / The Washington Post via Getty Images / Getty Images)
But the comprehensive definitions of the president escalated a trade war with the allies of the United States, especially Canada, Mexico and the European Union.
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Earlier this month, Canada – the largest foreign steel and aluminum resource for the United States – announced 21 billion dollars of customs tariffs against the United States in response to the Trump tariff by 25 % on both commodities.
US Treasury Secretary Scott Bessin and US President Donald Trump look at the White House digital assets in the White House on March 7, 2025. (Anna Moneymaker / Getty Images / Getty Images)
This also sparked revenge on the European Union, which announced the reprisal tariff that applies to US exports equivalent to $ 28 billion.
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Greg Norman and Alex Nitzberg contributed to this report.
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