Trump on trade: European Union 'possibly as bad as China'

Seeing red

In a letter sent to U.S. Commerce Department Friday, the European Union said tariffs on European cars and auto parts were unjustifiable.

The document also said that European vehicle makers in the USA make about 2.9 million cars per year, accounting for 120,000 jobs directly involved in the manufacturing process, or 420,000 jobs if non-direct roles such as auto parts production and retailers are included.

The Financial Times reports that the European Union has threatened to retaliate if US President Donald Trump places tariffs on European cars.

"Economic analysis confirms that an increased tariff on these products will be harmful first and foremost for the U.S. economy", the letter said. Moog says the new measures have the "very real potential of forcing us to lay off workers and could (in a worst case scenario) require us to move some, if not all, of our manufacturing overseas".

The bloc argues that for some goods, such as trucks, USA import duties are higher.

Mesut Ozil breaks silence after Germany's World Cup exit
They ran out of ideas against Iceland , were outplayed by Croatia and survived only thanks to a last-gasp win over Nigeria . Only Toni Kroos' 95th-minute victor spoilt an unbeaten record and Sweden responded with an emphatic win over Mexico .

Sen. Jeff Flake (R-AZ) called out President Donald Trump for a claim he made about the European Union trade policies during a Sunday morning interview on Fox News.

At Trump's insistence, Canada, Mexico and the US are renegotiating the North American Free Trade Agreement (NAFTA). They don't want our farm products. It calculated that a 25% tariff would slash an initial $13-14 billion off United States gross domestic product, with no predicted improvements to its own incomes. Now in all fairness they have their farmers. The tariff which will apply to parts imported from China - circuit boards and "associated components" eg pretty much all of the electrical components many manufacturers in the U.S. use to source their parts will come into force on July 6th, as part of a wider set of tariffs including those from the EU.

The submission comes as the Commerce Department investigates automobile imports to the U.S. The U.S. has higher tariffs on trucks and other products, she said.

Assuming counter-measures along the lines of those taken in response to existing U.S. import tariffs on steel and aluminium, up to US$294 billion of United States exports - 19% of overall USA exports - could be affected, the submission said.

In recent months, Trump has sparked a global-trade conflict by placing or threatening punitive tariffs on hundreds of billions of dollars' worth of goods from China, Mexico, Canada, and the European Union.

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