Trump threatens the “largest” definitions of the European Union and Canada

US President Donald Trump threatened to impose a “much larger” tariff on the European Union (European Union) and Canada if they were working together to combat commercial definitions.

“If the European Union is working with Canada to cause economic harm in the United States of America, the customs tariff will be widely laid down, much larger than the scheme currently, both, in order to protect the best friend of all of these countries!”. to update Thursday.

On Wednesday, the White House leader announced that he would determine a 25 % tariff on “all cars that were not made in the United States” with a valid on April 2.

The White House assistant, Will Charf, said that the new duties apply to “foreign cars and light trucks” and come in addition to the already existing customs tariffs.

Critically, Definitions It will also apply to auto parts including engines and transporting ingredients and electricity – many of which are shipped to the United States from abroad and are used in the production of American cars, although they are scheduled to enter into force in May. Schaar estimated that the measures would lead to “more than $ 100 billion in new annual revenues” to the United States

The global markets were fragment as a new front that opened in the prosperous global trade war, with our shares Asian car manufacturers fall After the announcement, and European car giants are expected to do the same In the open market on Thursday.

Trump has already raised firm global trading relationships by imposing import duties on goods coming from Mexico, Canada and China, as well as fees on all imports of steel and aluminum, due to what he sees as an unfair commercial deficit with the United States with a number of its largest trading partners.

The White House said on Wednesday that the latest customs tariff “will protect and strengthen” the American auto industry, although analysts point out that American car makers use parts of all over the world to assemble, which means that duties can affect them as well.

The European Union and Canada did not issue any statement indicating that they will challenge the harm to the United States, as Trump’s publication indicated, but both indicated that they could split into the latest period.

“The European Union will continue to search for negotiation solutions, while protecting its economic interests,” said European Commission President Ursula von der Lin.

“The customs tariffs are taxes – bad for companies, and worse for consumers equally in the United States and the European Union,” she said. statement.

Meanwhile, the new Prime Minister of Canada Mark Carney described Trump’s move as a “direct attack” and reported that he would hold a high -level meeting in the Council of Ministers on Thursday to make a decision on the response.

“We will defend our workers and bury our companies According to Reuters.

Trump’s tariff policies have sparked economists who warn that they are likely to be inflationary and pay prices for American citizens At a time of already low consumer confidence. Analysts say the same concerns apply to the latest duties of cars.

“From our point of view, these initial definitions (if in their current form) will be a window -like wind -like winds to foreign auto manufacturers (and many of the United States) and eventually pay the average price of cars to 5 thousand dollars to 10 thousand dollars depending on the point of making/model/price.”

“We still believe that this is a form of negotiation and these definitions may change by the week, although this 25 % initial tariff on cars from outside the United States is almost the number of scratching head that cannot be defended for the American consumer,” and analysts stated.

– KEVIN Breuninger of CNBC and Yimer Javers contributed to the reports to this story.