Donald Trump has threatened to impose 25% tariffs on the European Union, claiming the 27-nation bloc was "formed to defraud the United States".
Speaking at his first cabinet meeting on Wednesday, the US president said he would soon release details of the latest tariff threat. “We have made a decision and we will announce it very soon. It will be 25%,” he said.
The EU vowed to retaliate immediately if the US imposes tariffs on member countries' exports.
"The EU will react decisively and promptly against unjustified barriers to free and fair trade, including when tariffs are used to challenge legal and non-discriminatory policies. The EU will always protect European businesses, workers and consumers from unjustified tariffs," a European Commission spokesperson said.
The bloc is the US's third-largest trading partner after China. Trump has said he will impose 25% tariffs on the US's two largest trading partners, Canada and Mexico, next week.
The US president did not provide further details, but mentioned car manufacturers and said the taxes would apply "across the board." "And that's going to be on cars and all the other things," he said.
The White House has made a series of announcements about imposing tariffs on the US's largest trading partners, but has repeatedly delayed imposing taxes on Canada and Mexico.
Earlier this week, Trump defended his tariff threats and said foreign cars, drugs and semiconductor chips would be hit within weeks.
According to Bloomberg, Trump's tariffs could hit up to $29.3 billion (28 billion euros) of the bloc's exports. (A2 Televizion)
A2 CNN Livestream
MUND TE LEXONI GJITHASHTU
