European Central Bank President Christine Lagarde said on Monday that the possibility of implementing customs duties imposed by the United States on April 2 is the beginning of a march towards independence for Europe.
“It is called (US President Donald Trump) on the day of liberation. I see him as a moment when we must decide together to hold our fate with our hands.”
Trump is expected to announce a comprehensive proposal for customs fees in what he calls “liberation day” tomorrow, Wednesday, after applying fees on aluminum, steel and cars, as well as increasing customs duties on all goods from China.
A similar response
For his part, French Trade Minister Laurent Saint Martin said that Paris still hopes that Europe will avoid a trade war with the United States, but will respond with similar measures if Trump imposes the customs duties he announced on Wednesday.
He added in an interview with Radio RTL today, Monday, “Europe will never be united and strong if it allows itself to be pushed into a commercial war that she does not want. However, it must always offer a positive agenda,” he added in an interview with Radio RTL.
All countries
In a related context, Trump said that the counter -tariffs that will be announced this week will include all countries, not a limited number of countries with the broader commercial imbalances with the United States.
“We will start with all countries,” he told reporters on the presidential plane.
In his speech to Fox Business recently, the White House Economic Adviser Kevin Haysit said that the fees will focus on countries with the broader commercial imbalances with the United States, which numbered 10 to 15 countries, without specifying them.
Trump sees customs duties as a way to protect the American economy from unfair global competition and a negotiating paper under which the United States gets better conditions.
However, anxiety over the trade war led to turmoil in markets and fears of economic recession in the United States.
Trump said he would impose a package of anti -customs duties on countries that apply fees on US exports.
