New tariffs will apply to wide range of goods, including cars, pharmaceutical products
Washington: US President Donald Trump has announced that he will impose tariffs of up to 25 percent on European Union products and has also indicated that he will impose heavy taxes on Canada and Mexico.
During a cabinet meeting, Trump called the creation of the European Union a conspiracy against the United States and said that the bloc was intended to harm the United States commercially. According to him, ‘the European Union has taken advantage of us’.
According to Trump, the new tariffs will apply to a wide range of goods, including cars and pharmaceutical products. He added that these tariffs would be an ‘equal response’ against ‘unfair and unbalanced trade’.
Trump indicated that heavy tariffs will also be imposed on Canada and Mexico in early April, which are aimed at stopping illegal immigration and fentanyl trafficking.
Trump's policy is likely to cause tension in global trade relations, as the European Union and other countries have already objected to US trade policies.
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