According to iNews, Donald Trump, the U.S. President, has suggested that while the UK’s trade practices with the United States are out of line, the issues could potentially be resolved.
However, he issued a stark warning to the European Union, stating they would definitely face tariffs.
Speaking to the BBC early Monday, Trump was asked whether the UK would be targeted with tariffs.
He replied, It might happen, but emphasized the certainty of tariffs for the EU. “They’ve really taken advantage of us, they don’t take our cars, they don’t take our farm products, they take almost nothing, and we take almost everything from them, Trump said.
He added, “So the UK is way out of line but I think that one can be worked out, but the European Union, it’s an atrocity what they’ve done.
The U.S. president also commented on his relationship with the UK Labour leader, Sir Keir Starmer.
“We’ve had a couple of meetings, we’ve had numerous phone calls, we’re getting along very well, we’ll see if we can balance out our budget, Trump stated.
Meanwhile, the President is set to engage in discussions on Monday with the leaders of Canada and Mexico, both of whom are facing 25% tariffs set to take effect on Tuesday.
These countries have announced retaliatory measures, sparking concerns of escalating trade tensions. The sweeping tariffs also include a 10% tax on Chinese goods.
Trump acknowledged the potential for short-term economic pain for Americans as global markets react to his policies. “I don’t expect anything dramatic, he said.
“They owe us a lot of money, and I’m sure they’re going to pay.
The tariffs, which will affect nearly half of U.S. imports, have been criticized for potentially slowing global growth and driving up prices domestically.
Analysts warn that Canada and Mexico could face recessions, and the U.S. itself might risk stagflation a mix of high inflation, stagnant growth and increased unemployment.
Despite the backlash, Trump defended his measures as necessary to curb immigration, combat narcotics trafficking, and stimulate domestic industries.
“We may have short term some little pain and people understand that. But long term, the United States has been ripped off by virtually every country in the world, he said.
Economists have questioned the feasibility of the U.S. doubling its manufacturing output to compensate for reduced imports, with ING analysts calling it an unfeasible task in the near term. They warned that escalating trade tensions are a lose-lose situation for all countries involved.
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