Dutch PM Rutte interrupts Trump over trade deal claims

Trump European Union is 'possibly as bad' as China on trade

Dutch PM Rutte interrupts Trump over trade deal claims

Speaking to host Maria Bartiromo on Sunday Morning Futures, Trump said this when asked if he'd consider working with US allies to combat China's trade policies: "The European Union is possibly as bad as China, just smaller".

The European Union has warned the United States that imposing import tariffs on cars and auto parts would harm its own automotive industry and likely lead to counter-measures by its trading partners on US$294 billion of USA exports.

In May, Mr. Trump ordered an inquiry into the possibility of imposing tariffs on vehicle imports.

Canada retaliated with $12.6 billion in tariffs against American-made products after the Trump administration targeted steel and aluminum imports with new tariffs.

SC is not the only state expected to suffer, Iowa pork producers could lose $560 million from a Mexico tariff on the product.

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Tariffs our government has placed on American goods are now in effect, in response to levies the Trump administration has placed on Canadian products.

United States tariffs on $US34 billion ($46.3 billion) worth of Chinese goods come into effect on Friday with a big risk of more tit for tat tariffs from China.

Retaliation for his tariffs came swiftly.

When Trump tried to say Monday that it's not a big deal if the trade dispute with the European Union continues, Dutch Prime Minister Mark Rutte literally laughed in his face.

The White House last month announced plans to slap 25 percent tariffs on roughly 1,100 goods imported from China, worth $50 billion a year.

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Trump has previously been persuaded to back off of trade threats with the argument that states that backed him in the 2016 presidential campaign will be hit hard.

We're going to continue to see reactions and counter-trend reactions in the USA stock markets because the direct economic damage from the tariffs imposed on the USA appears to be relatively contained, at least for now.

In a 10-page submission to the United States Commerce Department sent last Friday, the European Union said tariffs on cars and auto parts were unjustifiable and did not make economic sense. The EU has targeted US$3.2 billion in American goods exported to the 28-member bloc, including bourbon and Harley Davidson motorcycles.

The Chamber is expected to spend millions of dollars ahead of the November elections to help candidates who back free trade, immigration and lower taxes.

European envoys say they already sensed a greater urgency from China in 2017 to find like-minded countries willing to stand up against Trump's "America First" policies. "So if there's countries out there that want to do that, I'm sure he'd be happy to sit down and make that happen right now and move this process forward a whole lot quicker".

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