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President Donald Trump is speaking at a joint press conference with British Prime Minister Theresa May (uncomfortable) in London, Britain, June 4, 2019.
Carlos Baria Reuters
US President Donald Trump said on Sunday that commercial definitions will be imposed on the European Union and the United Kingdom, but indicated that it is still possible to connect a deal with Britain.
Trump sent the global markets to a tail after his follow -up to threaten him by imposing an import tariff on the largest commercial partners in the United States, by applying a 25 % tariff to imports from Mexico and Canada and 1 % on goods from China. The customs duties are scheduled to enter on Tuesday.
All three countries criticized the fees. Canada has averaged by its own sanctions on American imports, with Mexico threatened by the same thing. China said whether a lawsuit will be submitted to the World Trade Organization.
On Sunday, it was asked about the possibility of customs tariffs on goods from the United Kingdom and the European Union (European Union), Trump BBC said Both of them were acting “outside the line”, but the European Union was worse, and definitions could be imposed on the mass “soon.”
“They do not take our cars, do not take our agricultural products, do not take anything almost, and we take everything from them. Millions of cars, huge amounts of food and agricultural products,” commented as he arrived at Maryland. He said that there is no timetable for definitions, but they will come “soon.”
As for Britain, With the United States with a more accurate trade relationshipThe president said he believed it was still possible to reach a deal.
Trump said, “I.Uk is out of the line. But I am sure he, I think, can be resolved,” adding that he is “consistent well” with UK Prime Minister Kiir Starmer.
Commercial balances
President Trump has long accused a number of the largest trade partners in America of using the United States, pointing to the large and continuous trade deficit. Trump sees definitions as a way to correct balance, on the pretext that politics will enhance jobs and growth. Critics warn that fees will harm American citizens as well, as costs are transferred to consumers.
The European Union is seen as the next in the Trump tariff list, given that it is the largest entertainment block for trade with the United States and has been subjected to repeated criticism of its continuous trade surplus with the states. European Commission data appears The European Union had a trade surplus of 155.8 billion euros (159.6 billion dollars) with the United States for goods in 2023, but it was a 104 billion euros deficit on services.
Machines and vehicles are the largest part of the European Union exports to the United States by the product group, followed by chemicals, other manufactured goods, medical and pharmaceutical products.
New cars from various brands for export are stopped on parking lots at a car station in Duisburg Port, western Germany, on August 7, 2024.
Ina Fassbnder | AFP | Gety pictures
On Sunday, Trump described the USA’s trade deficit as “terrible”, with his previous comments that the bloc “benefited” from its relationship with the United States.
“I can tell you that, because they really benefited from us. As you know, we have more than $ 300 billion. I will not say that there is a schedule (for definitions) but it will be very close, Trump said.
European Union officials have previously suggested that the bloc could respond to the American definitions “in a commensurate” way, with the Echo of the European Commission on Sunday that it would “respond firmly.”
A spokesman for the committee said in a statement, “Surprising tariff measures raise the costs of work and harm workers and consumers. It defines the definitions of unnecessary economic disruption and payment of inflation. It is painful to all parties,” a spokesman for the committee said in a statement..
“At this time, we are not aware of any additional tariff imposed on the products of the European Union. Our commercial and investment relationship with the United States is the largest in the world. There is a lot at stake. We must discuss strengthening this relationship and the committee spokesman added.
Britain off the hook?
US President Donald Trump searched the honor guard during a welcome ceremony at Buckingham Palace in central London on June 3, 2019, on the first day of his three -day visit to the United Kingdom
Mandel and | AFP | Gety pictures
The latest trade data in the United Kingdom He explains that the UK has a trade surplus of 4.5 billion pounds ($ 5.5 billion) with the United States in goods, in the four quarters that ends in the second quarter of 2024.
Economists have previously indicated that the most balanced trade and the “special relationship” between the two countries can allow Britain to escape relatively safe from a possible trade war.
The work government looked at flying under Trump’s anger radar, as Finance Minister Rachel Reeves CNBC at the World Economic Forum in Davos last month that the United Kingdom was not part of the “continuous” trade deficit “problem that Trump wanted to address.
On Monday, a British government spokesman said, “We have a fair and balanced trade relationship that will benefit from both sides of the Atlantic Ocean,” in the comments reported by Reuters. CNBC requested more comment from the government and is waiting for a response.
The threat of customs tariffs at the center of discussions must be when Starmer joins the leaders of the European Union in Brussels on Monday to discuss the defense strategy in the region. It is possible that the threat of a high -level trade war on the agenda as Britain and the European Union are looking to deepen economic and political relations five years after the United Kingdom left the bloc.
British Prime Minister Kiir Starmer speaks at a press conference during his visit to the headquarters of the European Commission on October 2, 2024 in Brussels, Belgium.
Combat | Getty Images News | Gety pictures
The possibility of definitions is already difficult for the European Union, as both the eurozone and the largest economy European Union bloc fight. The data issued last Thursday showed that the eurozone economy is in the fourth quarter, while The European Union faded 0.1 % in the same periodFrom the previous quarter.
Strategists at Deutsche Bank said in a research note on Monday that any tariff that Trump imposes on the European Union will be dealt with suggested that its value be 0.5-0.9 % of GDP (GDP) all other things are equal. “
Europe is likely to be subjected to some measures to seize the title, according to Holger Schmiding, chief economist at Burnberg Bank – but the bloc may look forward to a deal with Trump transactions.
“By raising military spending and intensifying liquid natural gas imports from the United States, the European Union will be able to avoid a cycle of war in circulation with the United States if this is the case, commercial tensions will be restricted but do not prevent the gradual growth of European growth from the European growth said in the comments. By e -mail on Monday after winter.
