Trump threatens new EU

President Donald Trump threatened new tariffs in the European Union on Wednesday, recorded the block and increased his trade conflict over the Atlantic.

“We made a decision,” said Trump during a cabinet seat on Wednesday afternoon. “We will announce it very soon, and it will generally be 25%, and that will be cars and all things,” said Trump and demanded the block as an opponent that has exploited the USA.

In addition to the tariff announcement, Trump aimed at the EU itself.

“I mean, let's be honest,” said Trump. “The European Union was founded to fool the United States. That is the purpose of it and they did a good job. But now I'm president.”

According to Trump's comments, the comments came to a deal in Ukraine, which indicates that the EU should contribute more money to a solution to the armed conflict. Trump previously used the threat of tariffs against other nations to extract political concessions.

“You really took advantage of us,” said Trump about the EU. “They do not accept our cars. They essentially do not accept our agricultural products. They use all possible reasons, why not.”

The proposed new taxes against the EU would expand Trump's trade battle.

Read more: What are tariffs and how do you affect you?

The president has already announced tariffs against the country's leading trading partners: Canada, Mexico and China.

On Wednesday, Trump proposed that the tariffs for Mexican and Canadian imports would begin on April 2.

The president previously agreed to delay for months after the leaders of the country's neighbors in the north and south were obliged to have a stronger border control. The new April period would mean further extension.

There was some confusion about whether Trump referred to the date on April 2 for Canada and Mexico – or whether he discussed a wider program that should impose mutual tariffs imposed.

After Trump's fresh tariff threats, the Wall Street withdrew from the highs of the day.

The technical-haired Nasdaq Composite (^ixic) rose by 0.2%, the benchmark S&P 500 (^GSPC) closed, while the Dow Jones Industrial Average (^dji) gave up 0.4%.

Hamza Shaban is a reporter for Yahoo finances that cover markets and the economy. Follow Hamza on X @Hshaban.

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