US President Donald Trump has said that he may impose tariffs on cars and auto parts imported from the European Union if Washington is unable to make a trade deal with Brussels.Austrian Chancellor Sebastian Kurz on Wednesday at the White House. “We are negotiating with them. If we don’t make the deal, we will do the tariffs,” Trump told reporters. “[The EU has] been very difficult over a period of time, over many, many years.” Trump is currently reviewing a report from the US Department of Commerce on whether or not imported vehicles and parts pose a threat to US national security. The department’s findings have not yet been made public. EU-US trade relationship More than a trillion euros in trade The European Union is the US’ largest export market, accounting for about one-fifth of all US exports. Similarly, one-fifth of EU exports go to the United States. EU-US trade in goods and services was €1,069.3 billion in 2017. The EU imported €256.2 billion in goods from the US, and exported €375.8 billion. EU-US trade relationship EU trade surplus The main exports and imports between the EU and US fall into the categories of machinery and vehicles, chemicals and other manufactured goods. Combined,… Read full this story
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