US President Donald Trump vowed to hit the European Union with tariffs and said his administration was discussing a 10% punitive duty on Chinese imports because fentanyl was being sent from China to the US via Mexico and Canada.
Trump voiced his latest tariff threats in remarks to reporters at the White House a day after taking office without immediately imposing tariffs as he had promised during his campaign.
Financial markets and trade groups exhaled briefly, but his latest comments underscored Trump’s longstanding desire for broader duties, a new February 1 deadline for 25% tariffs against Canada and Mexico, and duties on China and the European Union.
Trump said the EU and other countries also had troubling trade surpluses with the US.
“The European Union is very, very bad to us,” he said, adding: “So they’re going to be in for tariffs. It’s the only way […] you’ll get fairness.”
Trump said on Monday that he was considering imposing duties on Canada and Mexico unless they clamped down on the trafficking of illegal migrants and fentanyl, including precursor chemicals from China, across their US borders.
Trump had previously threatened a 10% duty on Chinese imports because of the trade but realigned that with the February 1 deadline.
Trump on Monday announced a sweeping immigration crackdown, including a broad ban on asylum.
President Trump has also signed a broad trade memorandum, opening a new tab ordering federal agencies to complete comprehensive reviews of a range of trade issues by April 1.
