US presidential candidate Donald Trump said that he considers the European Union to be a "mini-China" in the context of trade relations.
Points of attention
- Donald Trump accuses the European Union of having a significant trade deficit with the US, likening it to 'mini-China'.
- Trump plans to potentially impose blanket tariffs on imports, which could spark a trade war affecting the EU and the German economy.
- The EU is preparing for a possible Trump victory by creating a list of American goods for potential tariffs, aiming to find agreements with Trump on common interests such as China.
Trump attacked the EU with new accusations
The Republican leader began to complain that the European Union does not buy American-made machines and agricultural products.
They don't take anything. You have a deficit of 312 billion dollars with the EU. You know, the EU is a mini... although it's not that small, it's a mini China.
What is important to understand is that the trade deficit of US goods with the European Union last year amounted to 157.9 billion euros, which is equivalent to 170.54 billion dollars. This is confirmed by the data of the statistical agency Eurostat.
In addition, it is emphasized that the return of a Republican to the White House could be a serious blow to the German economy, especially if he starts a trade war between the States and the EU.
Trump plans to impose blanket tariffs of 10% to 20% on nearly all imports, and significantly increase tariffs on Chinese goods to 60% or more. According to him, such measures will contribute to the growth of production in the USA.
The EU is already preparing for a possible Trump victory
Official Brussels has already prepared a list of American goods that it can impose tariffs on, if the odious Republican wins the elections in the US and still introduces tariffs on European imports.
In addition, it is emphasized that this is not the basic scenario of actions in case of Trump's return to the White House.
According to insiders, the EU authorities can go to the adoption of tariffs only in response to the actions of official Washington, instead, Brussels prefers to find agreements with Trump on areas of common interest — for example, China.
After coming to power in 2018, the former US president unexpectedly introduced tariffs on European steel and aluminum. The EU then retaliated by imposing tariffs against, in particular, Harley-Davidson motorcycles and Levi Strauss & Co. jeans.
