President Trump Announces Tariffs on the EU
8
World
February 1, 2025 01:30
- US President Donald Trump declares tariffs on the European Union following previous tariffs imposed on the US.
President Trump's Announcement on Tariffs
US President Donald Trump stated that the US will impose tariffs on the European Union (EU) in response to the tariffs imposed on the US. Trump also mentioned plans to impose tariffs on Canada, Mexico, China, and potentially on products like chips, oil, and gas.
Tariffs on Canada, Mexico, and China
Starting from February 1st, the US will impose a 25% tariff on Canada and Mexico, and a 10% tariff on China. Trump also hinted at reducing the tariff on Canadian oil to 10%.
Possible Tariffs on Chips and Energy Resources
Trump expressed the intention to impose tariffs on chips, oil, gas, steel, aluminum, and eventually copper. He emphasized that the US will reciprocate tariffs on countries that impose tariffs on the US.