U.S. President Donald Trump said something "very substantial" was planned for tariffs on the European Union.
The White House Press Secretary earlier said Trump had not made up his mind about a timeline for implementing EU tariffs.
#Trump #USTariffs #TradeWar #EUTariffs
The White House Press Secretary earlier said Trump had not made up his mind about a timeline for implementing EU tariffs.
#Trump #USTariffs #TradeWar #EUTariffs
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NewsTranscript
00:00As an example, the European Union charges us 20% plus, plus, plus, a VAT tax,
00:05called a VAT tax, very similar, and it costs us an absolute fortune.
00:11We are treated so badly, they don't take our cars,
00:14they don't take our farm products, essentially, they don't take almost anything.
00:18And we have a tremendous deficit with the European Union,
00:20so we'll be doing something very substantial with the European Union.
00:24We're going to bring the level up to where it should be.
00:27And if you think of the European Union, then you go to NATO,
00:30it's largely the same group of countries.
00:34Until I came along, I mean, we were paying almost 100% of NATO only to get bad trade deals.
00:41And now it's been evened out, but very unfair having to do—
00:46it was evened out pretty good. Actually, I did a good job.
00:48They paid $440 billion, if you look at the Secretary General's report,
00:54and he was here recently, and he said that.
00:57He said one of the most amazing things I've ever seen is what President Trump
01:01was able to do with these countries of Europe,
01:03of which he was in charge of them, but he couldn't get them to pay.
01:05I went over, I said, you got to pay.
01:07And if you don't pay, we're not going to protect you. It's very simple.