With his customs package, Trump has already triggered a stock exchange quake. But the US President continues to focus on escalation: he threatens China with even higher tariffs. In the meantime, the EU tries to negotiate Washington.
Despite a global descent of the stock excursions, US President Donald Trump is heading for a further escalation of the trade conflict. He threatened China with additional tariffs of another 50 percent. He gave Beijing time until Tuesday to take the counter -tariffs back of 34 percent, wrote Trump on his Truth Social platform. Otherwise his new tariffs would come into force on Wednesday.
Trump continued that China had imposed the “retaliation tariffs” of 34 percent despite his warning that he would raise further tariffs if a country should take such countermeasures. In a post, Trump had previously described China as the “greatest culprit”.
Trump’s course ensures uncertainty worldwide. The markets are under pressure. US Federal Research chief Jerome Powell recently warned of increasing inflation and slowed down economic growth in the United States.
EU offers the USA deal for free trade
The European Union, meanwhile, endeavors to de -escalation. Despite the pay decisions of US President Donald Trump, one should negotiate, said EU Commission President Ursula von der Leyen. The EU offers the United States an agreement to abolish all tariffs on industrial goods.
According to information from the dpa news agency, the offer had already been made before Trump’s pay decisions and was recently renewed on Friday. On request, von der Leyen added that the topic of free trade for cars had already been on the table several times, but there was no adequate answer.
Countermeasures are prepared
Von der Leyen also made it clear that in addition to its efforts to negotiate with the United States, the EU continues to prepare possible countermeasures in the event of failure.
These measures were also the subject of consultations by the EU Minister of Trade in Luxembourg. The executive Federal Minister of Economics Robert Habeck warned of overhanged reactions, but at the same time spoke out for the preparation of extensive countermeasures.
It is important that Europe cannot be split, said the Greens politician. From the point of view, an escalation should also be prevented as possible. “In my view, it is about avoiding us getting into an customs war, customs competition,” said Habeck.
