An emboldened President Donald Trump has set his sights on restructuring the more than $1 trillion U.S. trade relationship with the European Union, raising the specter of another major trade war as the global economy slows and he seeks re-election.

Trump, who recently signed a Phase 1 trade deal that cooled a bitter trade war with China, has called the EU’s position on trade “worse than China” and threatened to impose tariffs on its cars and other products.

European officials say they’re willing to work with Trump to address some irritants in the relationship, but they warn that they’ll retaliate against any U.S. efforts to punish the trading bloc.

Source

Back to Latest