Trump imposes a 25% tariff on the EU, and the tariff plan for Mexico and Canada advances.

On February 26,Which platform is better, Forex or FXCM? U.S. President Trump announced that the United States will impose a 25% tariff on the European Union, covering cars and other goods. Trump stated in a White House cabinet meeting that the EU "takes advantage of the United States" in trade and accused the EU of refusing American cars and agricultural products for various reasons, resulting in a trade deficit of about $300 billion between the U.S. and the EU.

However, media and economic data indicate that the trade deficit figure cited by Trump is inaccurate. According to EU statistics, in 2023, the U.S. had a goods trade deficit with the EU of €155.8 billion (approximately $168.6 billion), but in service trade, the U.S. had a surplus of €104 billion (about $112.6 billion) with the EU, making the total trade deficit €51.8 billion (approximately $56 billion).

Trump also stated that the planned tariff measures would be announced soon, indicating that these measures would apply to a variety of goods, including cars. He emphasized that the U.S. would impose a 25% tariff on Mexico and Canada, to be implemented on April 2. Previously, on February 1, Trump signed an executive order to impose a 25% tariff on imports from Mexico and Canada, with Canadian energy products facing an additional 10% tariff.

Despite Trump's announcement of a tariff increase deadline delay until March 4, he made it clear that the tariff plans targeting Mexico and Canada will proceed as scheduled. Additionally, on February 13, Trump signed a memorandum instructing the relevant departments to determine "reciprocal tariffs" for each foreign trade partner to ensure U.S. trade interests.

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