Trump threatens to impose massive tariffs on the EU and Canada.

On March 27,Formal foreign exchange platforms in 2019 U.S. President Trump issued a warning via social media, stating that if the European Union and Canada jointly "damage" the U.S. economy, the U.S. will impose large-scale tariffs on these two regions. He emphasized that to protect the U.S. economy, the U.S. will implement even larger tariffs based on the existing tariff plans.

Trump's statement came after he announced a 25% tariff on imported cars starting April 2. This move elicited strong reactions from the EU and Canada. European Commission President von der Leyen expressed "deep regret" over the U.S. tariff decision and noted that the EU will continue to seek solutions through negotiations while defending the EU’s economic interests.

From Canada's side, Prime Minister Carney stated that the long-standing relationship built on deepening economic integration and strengthening security and military cooperation between Canada and the U.S. has ended, and he announced retaliatory measures in response to the U.S.'s car tariff decision.

Trump's tough rhetoric and the latest tariff measures indicate that trade relations between the U.S., the EU, and Canada may further deteriorate.

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