United States President Donald Trump threatened to apply 35% tariffs on European Union products if the bloc does not fulfill the promise of investing $ 600 billion in the US economy. The statement was made on Tuesday (5), in an interview with CNBC, and represents a direct warning to the European Commission, a few days after the signing of a trade agreement between the parties.
The pact signed at the end of July reduced the import rates of European products from 30% to 15% by committing a billionaire investment by the block. Trump made it clear that the continuity of this reduced tariff depends on the full fulfillment of the promise made by European Union authorities. “If the 600 billion do not come, we will rise to 35%,” he said.
The president of the European Commission, Ursula von der Leyen, was responsible for negotiating the deal with Trump during a meeting in Scotland. However, European parliamentarians have criticized the conduct of negotiations, claiming that US interests have prevailed and that the bloc has committed to goals that cannot guarantee, as it has no direct control over private sector investments.
According to the commission, the US $ 600 billion announced an estimate based on contacts with European companies. The block already invests about $ 100 billion annually in the United States, but Trump’s promise provides a six -time volume until the end of its current term.
In addition to the investment requirement, the agreement also compromises the European Union to buy US $ 750 billion in US fossil fuels over the next three years and to suspend retaliatory measures. As part of this commitment, the European Commission has already announced the suspension for six months of a package of counterfeit that would affect 21 billion euros in American products.
Trump stressed that without the arrival of the promised investments, the agreement will be reevaluated and the tariffs will rise again. “This is the reason we have reduced to 15%. If they do not fulfill, we back,” said the president, signaling that the pressure on the European bloc should continue until the commitments are made.
