Katrina Campins, contributor to Fox Business joined joins “The Big Money Show” to comment on the feeling surrounding the imminent pricing plans of President Donald Trump.
President Donald Trump Early Thursday, threatened even greater prices on the European Union and Canada if the two economies worked together to make “economic damage to the United States”.
Writing on his social platform of truth, the president warned: “If the European Union Work with Canada to make economic damage to the United States, large-scale prices, much larger than expected currently, will be placed on them both to protect the best friend that each of these countries has ever had! “”
UAW rents the 25% price of Trump on automotive imports: “Victory for car workers”
President Donald Trump pronounces remarks at a meeting from the Cabinet to the White House on March 24, 2025 in Washington, DC. (Win McNamee / Getty / Getty Images images)
The position comes after the president announced Wednesday that it would impose a 25% rate on all imported cars.
The European Association of Automobile Manufacturers (ACEA) published on Thursday a statement saying that it was “deeply concerned” by Trump’s announcement by additional rates.
“European car manufacturers have been investing in the United States for decades, create jobs, promoting economic growth in local communities and generating massive tax revenues for the US government”, Director General of ACEA, Sigrid de Vries said in a press release. “We urge President Trump to consider the negative impact of prices not only on world car manufacturers, but also on American national manufacturing.”
President Trump considers prices as a way to bring tax revenues To finance its tax reductions plans while stimulating a revitalization of national manufacturing.
President Donald Trump signing executive orders imposing 25% prices on steel and aluminum imported as part of his current efforts to revise the American commercial relationship with the rest of the world. (Jabin Botsford / The Washington Post via Getty Images / Getty Images)
But the president’s radical rates increased a trade war with the American allies, in particular Canada, Mexico and the EU.
Watch: how investors can take advantage of the price of President Trump prices
Earlier this month, Canada-the largest foreign steel and aluminum supplier in the United States-announced $ 21 billion in additional United States in response to the 25% of Trump prices on both products.
US Treasury Secretary Scott Bessent and US President Donald Trump looked at the White House Dining Room Dining Room on March 7, 2025. (Anna Moneymaker / Getty Images / Getty Images)
This also triggered reprisals from the EU, which announced reprisal rates that would apply to American exports worth $ 28 billion.
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Greg Norman and Alex Nitzberg of Fox Business contributed to this report.
