WASHINGTON: US President Donald Trump said Wednesday that tariffs on EU products would be 25 percent in general, and signaled that duties on Canada and Me­­xico will take effect in ea­­r­ly April.

Speaking at a cab­inet meeting, Trump des­c­r­ibed the EU — whose cr­­eation was encouraged for decades by Washington — as rooted in an attempt to counter the United States.

“Look, let’s be honest, the European Union was formed in order to screw the US,” Trump said.

Asked if he had made a decision on tariff levels for the bloc, Trump added: “We’ll be announcing it very soon and it’ll be 25pc, generally speaking.” He said this would hit products including cars, ad­­­ding that the EU has “really taken advantage of us.”

Trump has threatened “reciprocal tariffs” on US trading partners to counter “unfair and unbalan­ced” trade. He has also said he would impose sweeping levies on imports of certain products, such as autos and pharmaceuticals.

Since taking office in Jan­uary, Trump has ann­ounced and paused blanket tariffs on US neighbors Canada and Mexico over illegal immigration and fentanyl smuggling.

Published in Dawn, February 27th, 2025

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Budgeting austerity
Updated 16 May, 2025

Budgeting austerity

The past policy of squeezing salaried classes and fully documented corporations to collect taxes will not work any longer.
A ‘new’ Syria
16 May, 2025

A ‘new’ Syria

THE American embrace of the post-Assad Syrian regime is complete, with President Donald Trump meeting the Arab...
Business of begging
16 May, 2025

Business of begging

IT is a matter of deep embarrassment that Pakistan has become an ‘exporter’ of beggars. Over 5,000 have been...
Rebuilding trust
Updated 15 May, 2025

Rebuilding trust

Both countries will have to restart the dialogue process. One major step India can take would be to honour the IWT.
Political off-ramp
15 May, 2025

Political off-ramp

IN the midst of every crisis, there lies great opportunity. With the nation basking in the afterglow of Pakistan’s...
Awami League ban
15 May, 2025

Awami League ban

BANGLADESH stands at a key crossroads. While the ouster of Sheikh Hasina Wajed’s government and the formation of ...