Editor’s Note
The White House has firmly dismissed rumors of suspending current U.S. tariffs, with President Trump threatening further tariffs on China.
The White House has decisively rejected speculation about a possible suspension of the US tariff package. President Trump is threatening China with additional tariffs of 50 percent.
The German economy faces significant export losses to the USA if US President Donald Trump maintains the imposed tariffs.
said acting Finance Minister Jörg Kukies on ZDF’s heute journal. According to calculations by the ifo Institute, Kukies stated that German exports to the USA would fall by around 15 percent. Growth prospects would decline significantly, and the risk of recession would increase.
Kukies sees no winners in the trade conflict triggered by the US tariffs. Everything observed in reactions from US companies shows that the recession risk in the USA is also rising. Room for promised tax cuts would shrink as a result.
Kukies sees a “broad consensus within the democratic parties in Germany” to support the EU Commission’s course: to signal willingness to mutually reduce tariffs on industrial products to zero, but also to take clear countermeasures if no agreement is reached. However, the Finance Minister criticized that he would have been even happier if the EU Commission had simultaneously stated its intention to swiftly implement free trade agreements with South America and Asian countries and offer such agreements to the rest of the world.
Trump has stated that the EU will have to buy energy from the USA. This will be a focal point of his efforts to eliminate the trade deficit with the EU. Trump accused European countries in front of the press at the White House of not buying enough US goods.
Israel’s Prime Minister Benjamin Netanyahu has announced that Israel will reduce tariffs and trade barriers vis-à-vis the USA.
said Netanyahu at a reception at the White House. He also spoke of reducing the trade deficit with the United States.
Netanyahu said to Trump. The Republican replied that he very much welcomed what Netanyahu had said about tariffs but left open how he intends to respond to the offer.
Netanyahu said he had already spoken with US Commerce Secretary Howard Lutnick about abolishing the tariffs. According to Israeli information, about 99 percent of goods imported from the USA have been completely exempt from tariffs for decades. Netanyahu is the first foreign head of government to be received for talks at the White House since the announcement of the new tariffs.
US President Donald Trump has rejected suspending the tariffs despite the stock market plunge.
Trump said in response to a corresponding question at the White House. Previously, White House representatives had already labeled corresponding speculation about a tariff suspension as fake news. There are many countries that want to negotiate with the USA, Trump said at a reception for Israeli Prime Minister Benjamin Netanyahu. He named Japanese Prime Minister Shigeru Ishiba, with whom he had spoken in the morning.
He accused the EU of shielding its auto industry not only with tariffs but with requirements and rules. They had been created to block the import of American cars.
The US President reaffirmed his announcement from the morning that he would impose additional tariffs of another 50 percent on China. He was responding to Beijing’s announced counter-tariffs of 34 percent. Trump emphasized that he has a great relationship with President Xi Jinping and hopes it will remain so.
In a post, Trump had previously labeled China as the “greatest villain.”
The US House of Representatives will not oppose President Donald Trump’s tariff policy for the time being. The chamber will give Trump leeway on the issue, said Republican House Speaker Mike Johnson on Monday. Republican lawmakers intend to give Trump more time to balance trade imbalances with other countries, Johnson responded when asked if the House would intervene.
The Senate, on the other hand, passed a resolution last week that could restrict Trump’s ability to impose tariffs on Canada. Johnson said the USA had reported a trade deficit of $1.2 trillion last year. Americans understand that Trump is trying to address that.
