A sword in the water. Europe had proposed to Donald Trump a cessation of customs duties on industrial goods with the United States, but the president rejected the offer. Tariffs should therefore apply full whip tomorrow.
Donald Trump refuses the European negotiation proposal
Ursula von der Leyen, the president of the European Commission, had made a halftone offer in the United States yesterday, offering to abandon customs duties on industrial products. But Donald Trump refused, believing that it was not a sufficiently interesting offer.
While several major savings are in the negotiation phase with the United States, The president reiterated his criticism from Europebelieving that she was unjustly treated her country:
The European Union was very bad for us. We pay to protect them militarily, and they rip us to trade. It is therefore not a good combination.
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For Donald Trump, the European Union “was created in order to harm the United States on the commercial level, which is why it was formed.». The President of the United States therefore wishes to maintain pressure on the old continent.
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Europe hesitates in the face of the threat of climbing
The European Union tries to play the balance between a possible de -escalation of tensions and a message of firmness. Currently, we do not know the exact customs duties that it will apply in return, which should target certain American products in particular.
According to Bloomberg, which quotes an official document, agrifood sectors, as well as certain vehicles, would in particular be affected by customs duties rose from 10 to 25 %. But Europeans are cautious: while they were considering an increase in customs duties on American Whiskeys, Donald Trump threatened with a 200 % tax on European wines and champagnes.
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The tilting could come on the tech side. Europe is very dependent on the digital giants and it has not shown a sign that it wished at this stage taxer. That said, if the union triggered its “anti-coercion shield”, it could affect this crucial sector for the United States.
Negotiations will continue today Pending the triggering of customs duties this Wednesday. Until then, the European Union is in the European Union, leaving the scholarships a little respite, which had a dark Monday yesterday.
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Source: Bloomberg
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Journalist at Cryptoast since 2017, I have been passionate about the challenges of decentralization, privacy and regulation. I specialized in the economy and traditional finance by analyzing how the news in this sector influence that of cryptocurrencies, thus offering a unique and enlightened perspective to cryptoast readers.
Marine Debellor
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