Washington (EFE).- The United States President Donald Trump threatened on Tuesday to impose tariffs of 35% on the European Union if the bloc does not invest the 600 billion dollars it agreed to inject into the North American country’s economy.
When asked by CNBC what consequences the EU could face if it fails to fulfill its part of the trade agreement with Washington by late July, the president warned that the 27 countries “will then pay 35% tariffs.”
Furthermore, Trump referred to the amount agreed as a “gift,” saying that his government could invest it in whatever it wanted.
The agreement between the US and the EU reduces the tariffs that Trump imposed on the bloc from 30% to 15%, and it will take effect on Aug. 8, which is seven days later than planned.
The EU was one of the last parties to reach a trade agreement with Washington, as reflected in Trump’s executive order, setting the tariff for most European products at 15%.
This percentage was announced as part of an agreement between Trump and Ursula von der Leyen, the President of the European Commission, to avoid a trade war and the threat of Washington imposing a general tariff of 30% on EU imports.
The agreement also establishes “zero tariffs” on various products, as well as strategic European purchases of gas, oil, nuclear energy, and artificial intelligence chips valued at 750 billion dollars, including investments in the US economy of 600 billion dollars, and increased acquisitions of US military material. EFE
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