Given the swiftness with which the Trump administration implements election promises, it is "hard to see" how the European Union "could escape the tariff dance," according to an economist, who suggests it wonβt take until April before the bloc would feel the economic pain of U.S. levies.
Questions over potential levies on the EU resurfaced recently as U.S. President Donald Trump delivered on his election pledge and announced tariffs on neighboring Canada and Mexico, and China over the weekend.
Eventually, Trump offered reprieves to Mexico and Canada for 30 days but China on Tuesday hit back at the U.S. by imposing tariffs on some imports from the United States, reigniting concerns over the trade war between the world's two largest economies.
"President Trump has focused on Mexico, Canada and China so far, but that is expected to spread to other countries, especially in Europe," said James Knightley, chief international economist at Dutch banking and financial services giant ING.
"The European Union has not (yet) been the subject of the U.S. administrationβs tariff announcements.
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