Donald Trump emits an ultimatum in Canada and the EU

President Donald Trump has published an ultimatum in Canada and the European Union, warning that they will face “large-scale prices” if they make economic damage in the United States.

Writing on Truth Social at 1:50 am Thursday morning, Trump said that it would hit the EU and Canada with prices “much larger than expected” if they work together to “do economic damage to the United States”.

The threat occurred a few hours after Trump announced its intention to place 25% of prices on all automotive imports from April 3. “It will continue to stimulate growth,” Trump said on Wednesday. “We will effectively charge a price of 25%.”

President Donald Trump in the White House on Wednesday. Trump warned Canada and the European Union that they will face at “large-scale prices” if they make economic damage in the United States. President Donald Trump in the White House on Wednesday. Trump warned Canada and the European Union that they will face at “large-scale prices” if they make economic damage in the United States. Mark Schiefelbein / AP Why is it important

The concerns about a trade war are disturbing markets and create fears of a recession in the United States. Some Canadian customers boycott American products and Canada has prohibited Tesla vehicles from being eligible for the delivery of the Comté electric vehicles due to the prices.

The White House projects the new car rates will generate $ 100 billion in annual income, but analysts in the automotive industry warn that this decision could disrupt global supply chains and cause higher prices for consumers.

What to know

Neither the EU nor Canada has published declarations indicating that they plan to unite to harm in the United States, but both reported that they intended to retaliate to the last prices.

Prime Minister of Canada, Mark Carney, described Trump's automotive prices as a “very direct attack”. He added: “We will defend our workers. We will defend our businesses. We will defend our country.”

Ursula von der Leyen, the president of the European Commission, said: “Prices are taxes – bad for businesses, worse for consumers also in the United States and the European Union.”

She added that the EU “will continue to seek negotiated solutions, while protecting its economic interests”.

Trump's new prices should be imposed on all the cars and light trucks made outside the United States. They will also apply to automotive parts such as electrical components and engines, many of which are imported from abroad.

Last year, the United States imported almost eight million cars and light trucks worth 244 billion dollars. Mexico, Japan and South Korea were the main sources of foreign vehicles. Imports of car parts have reached more than $ 197 billion, led by Mexico, Canada and China, according to the Ministry of Commerce.

Trump’s announcement on Wednesday comes from existing prices announced by its administration, including scanning rights on imports from China, Mexico and Canada, as well as samples from all steel and aluminum products.

Canada and the EU already have a free trade agreement called the complete economic and commercial agreement (CETA), which they signed in 2017.

Canada is said to be in discussion with the EU to join a joint desire to break its dependence on the security of the United States, according to the Associated Press, citing a senior Canadian government official.

What people say

Trump wrote on Truth Social Thursday: “If the European Union works with Canada to do economic harm in the United States, large-scale prices, much larger than expected currently, will be placed on them both to protect the best friend that each of these two countries ever had!”

The president told journalists on Wednesday: “If parts are made in America and a car is not, these pieces will not be taxed or tariff and we will have a very strong police force … It is a number and this number will be used to considerably reduce debts in the United States and build things.”

The White House said in a statement: “President Trump takes action to protect the American automotive industry, which is vital for national security and was compromised by excessive imports threatening the national industrial base and the American domestic supply chains.”

What happens next

Trump's new car rates are expected to come into force on April 3.

If taxes are fully transmitted to consumers, the average automotive price on an imported vehicle could jump by $ 12,500, a sum that could fuel overall inflation.

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