US President Donald Trump has threatened to impose tariffs on the EU, claiming the bloc is not importing enough American goods.
#US #EU #Tariffs
#US #EU #Tariffs
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00:00Well this trade relationship is enormous, around 1.6 trillion dollars per year according to 2023's
00:07figures. But Donald Trump claims that this is a lopsided relationship. Essentially he is saying
00:13that the EU is sending far more products to the United States. Things like European cars are all
00:20over the European market but in response there are very few US goods here in Europe. That is the
00:26charge that Donald Trump claims and why he wants to see this addressed. But if we look at the
00:32figures there is certainly a surplus when it comes to EU goods. But as far as the European
00:37Union is concerned and something commission officials have been saying in recent weeks,
00:41they say that is largely offset by US services that outweigh EU services. So they say that that
00:50essentially balances out if you look at both goods and services. So that is the strong argument
00:56from the EU. But whether it is enough to convince Donald Trump, well seemingly the answer is no.