EU prepares Tariff retaliation as Trump outlines trade plans
Bloomberg reported on Wednesday that the European Union has prepared a list of American goods on which it could impose tariffs if Donald Trump wins the November presidential election in the US and, as he has promised, applies tariffs to all imported products.
Trump, the Republican Party's presidential candidate, sparred in an interview conducted on Tuesday with Bloomberg News editor-in-chief John Micklethwait about the tariffs he plans to impose on all goods imported into the US should he win in November.
When the interviewer pointed out that most economists, including experts questioned by the conservative newspaper "The Wall Street Journal," consider Trump's plans pro-inflationary, he replied: "What does the Wall Street Journal know? They've been wrong about everything. So have you, by the way. You've been wrong your whole life."
Brussels ready for retaliation
Bloomberg, citing "people familiar with the thinking" in the EU, reported on Wednesday that Brussels has prepared a list of American goods on which it could impose tariffs if Trump wins the election and follows through on his threat, impacting the Community with punitive trade measures.
According to the agency, the list of goods prepared by the EU for tariffs will be used exclusively in retaliation for actions by the White House.
One anonymous source emphasised that the EU would prefer seeking an agreement with Trump in areas of common interest, such as China.
