Trump threatens 'far larger' tariffs if EU and Canada unite to do 'economic harm' to the U.S.

U.S. President Donald Trump threatened to impose “far larger” tariffs on the European Union (EU) and Canada if they work together to combat trade tariffs, with a 25% tariff on foreign-made cars and light trucks set to take effect on April 2. The new duties will also apply to car parts and are expected to generate over $100 billion in annual revenue for the U.S., leading to market volatility and impacting global automakers. Trump’s actions reflect his ongoing efforts to address what he perceives as unfair trade deficits with major trading partners through the imposition of import duties on various goods.

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