US President Donald Trump has threatened to levy taxes on European automobiles if the European Union acts on its vow to retaliate against his sharp tariffs on aluminum and steel.
In a Twitter message on Saturday Trump further hinted, however, that he would not impose the aluminum and steel tariffs on the Europeans in case they also dropped their tariffs.
“The European Union, wonderful countries who treat the US very badly on trade, are complaining about the tariffs on Steel & Aluminum,” he wrote in the tweet message. “If they drop their horrific barriers & tariffs on US products going in, we will likewise drop ours. Big Deficit. If not, we Tax Cars etc. FAIR!”
The development came after the US president officially declared plans earlier in the week to impose tariffs of 25 percent on steel and 10 percent on aluminum in face of major opposition from his own political party.
The EU in turn threatened an “arsenal” of retaliatory measures when…