Global car stocks weaken as Trump renews threat of tariffs against the EU
Trump’s latest EU tariff threats have significantly contributed to escalating global trade tensions, as the US president also plans to levy tariffs on key trading partners such as Canada and Mexico.
ADVERTISEMENTUS president Donald Trump revealed in a cabinet meeting on Wednesday that he is planning to impose 25% tariffs on goods imported into the US from the bloc.
Trump said: “We’ll be announcing it very soon. It’ll be 25% generally speaking and that will be on cars and all other things. … The European Union was formed to screw the United States – that’s the purpose of it and they’ve done a good job of it. But now I’m president.”
European stocks were lacklustre on Thursday morning following the update. The STOXX 600…
