President Trump Threatens Increased Tariffs on EU if $600 Billion Investment Commitment Not Met
In a recent statement, President Trump warned that if the European Union fails to fulfill its promise to invest $600 billion in the United States, he will escalate tariffs against the 27-nation bloc.
Last month, Trump and the EU announced the initial outlines of a trade agreement, which included a 15% tariff on most imports from the trading bloc. Additionally, Europe committed to investing $600 billion in the US and purchasing $750 billion worth of American energy.
Speaking to CNBC’s “Squawk Box,” Trump stated, “Then they pay tariffs of 35%” when questioned about the consequences if the EU does not meet the investment commitment.
“They reduced their tariffs, paid $600 billion, and as a result, I decreased their tariffs from 30% to 15%,” explained the president. “They gifted us $600 billion, and we can invest it in anything we desire.”
Both the US and EU have not provided detailed information on how the $600 billion investment commitment will be executed.
“The specifics are $600 billion to invest in anything I choose. Anything. I have the freedom to do anything with it,” Trump reiterated when pressed for more information.
“The purpose was that they have been taking advantage of us for so long that it’s time for them to fulfill their obligations and pay up,” he added.
