Trump threatens even larger tariffs on EU, Canada if they work together to cause ‘economic harm’ to US

President Donald Trump threatened even larger charges for the European Union and Canada early on Thursday if each economies labored collectively to do ‘financial harm to the US’.

Writing on his social social platform, the president warned: “If the European Union works with Canada to get the US financial harm, massive -scale charges, a lot bigger than deliberate in the meanwhile, shall be positioned to them to guard the perfect buddy that every of those international locations has ever had!”

UAW praises the 25% price of Trump for Auto -Import: ‘Victory for AutoWorkers’

US President Donald Trump provides feedback throughout a cupboard assembly within the White Home on March 24, 2025, in Washington, DC. (Win McNamee / Getty Photographs / Getty Photographs)

The put up comes after the president introduced on Wednesday that he would impose a price of 25% on all imported vehicles.

The European Vehicle Producers’ Affiliation (ACEA) issued an announcement on Thursday stating that it was “deeply nervous” by Trump’s announcement of additional charges.

“European automobile producers have been investing within the US for many years, creating jobs, selling financial development in native communities and producing mass tax revenues for the US authorities,” said in a statement. “At President Trump we’re urging to think about the unfavourable impression of charges, not solely on world automobile producers, but additionally on American home manufacturing.”

President Trump regards the charges as a strategy to set tax revenues to finance his plans for tax cuts, whereas a revitalization of home manufacturing is stimulated.

President Donald Trump indicators government orders that impose 25 % charges on imported metal and aluminum as a part of his steady effort to revise the American commerce relationship with the remainder of the world. (Jabin Botsford / The Washington Publish through Getty Photographs / Getty Photographs)

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However the main charges of the president have escalated a commerce struggle with American allies, particularly Canada, Mexico and the EU.

Watch: How traders can profit from President Trump’s charges

Earlier this month, Canada – the most important international provider of metal and aluminum to the US – introduced $ 21 billion in additional charges towards the US in response to Trump’s 25% charges on each uncooked supplies.

The American secretary of Treasury Scott Bessent and US President Donald Trump are wanting up in the course of the White Home Digital Property Summit within the eating room of the state of the White Home on March 7, 2025. (Anna Moneymaker / Getty Photographs / Getty picture)

This additionally led to retaliation from the EU, which introduced retaliation charges that will apply to American exports with a price of the equal of $ 28 billion.

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Greg Norman and Alex Nitzberg from FOX Enterprise have contributed to this report.