Trump threatens with tariffs on oil and chips

Published:

Trump threatens with tariffs on oil and chips
Photo: Evan Vucci/AP/TT

USA introduces trade tariffs against Canada, Mexico, and China on Saturday. President Donald Trump also threatens with new tariffs on oil and data chips – and simultaneously threatens to introduce tariffs on goods from the EU. The European Union has treated us terribly, he says.

Messages about trade tariffs came in waves from Washington DC on Friday. First out was the president's spokesperson Karoline Leavitt, who confirmed Trump's earlier decision.

These are promises that have been made and promises that have been kept by the president, she said.

Then the president himself received reporters, with new statements.

Sooner or later, we will impose trade tariffs on data chips, on oil, and on gas, he said in the Oval Office, adding that some of these may be introduced as early as February 18.

Earlier, Trump had wavered on the goal of, among other things, imposing trade tariffs on oil imports.

Tariffs await EU

Trump was also asked about his stance towards EU countries:

Will I impose tariffs on the European Union? Do you want an honest answer or should I give you a political answer? he wondered rhetorically and then answered:

Absolutely. The European Union has treated us so terribly.

Canada and Mexico will be subject to 25 percent tariffs, while imported Chinese goods will receive 10 percent tariffs, which are the figures mentioned earlier.

It's because (countries) have manufactured illegal fentanyl and allowed it to be distributed into our country, which has killed tens of millions of Americans, said Karoline Leavitt.

Difficult days

The president, on his part, emphasized that China, Canada, and Mexico cannot do "anything" to change the decision. But the affected countries say they will respond.

The leading Democratic senator Charles Schumer criticized Trump for the decision:

If these trade tariffs are implemented, prices on food, on cars, on gasoline will make it harder for middle-class families to make ends meet.

Mexico's president Claudia Sheinbaum says the country has "a plan A, a plan B, and a plan C" ready for all decisions the US makes, while Canada's outgoing prime minister Justin Trudeau threatens that the country will act.

I don't want to hide (the economic problems), the next few days and weeks will be difficult for our country, he said according to BBC.

In previous trade wars, tariffs have been imposed on, among other things, orange juice and alcoholic beverages from the US. Canada can also threaten to reduce energy exports to mainly northeastern USA, which is heavily dependent on Canadian energy supply.

From the Chinese side, a spokesperson for the country's embassy in the US says that "there is no winner in a trade war".

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Oskarshamn Nuclear Reactor Restart Delayed Again

Oskarshamn Nuclear Reactor Restart Delayed Again

Financial Supervisory Authority Warns of Growing Scam List

Financial Supervisory Authority Warns of Growing Scam List

Service Sector Shows Clear Recovery in September Index

Service Sector Shows Clear Recovery in September Index

Second-Highest Rent Increase in Over 20 Years Reported This Year

Second-Highest Rent Increase in Over 20 Years Reported This Year

Stockholm Stock Market Climbs for Sixth Consecutive Day

Stockholm Stock Market Climbs for Sixth Consecutive Day

International Flights Rise in Sweden This Year

International Flights Rise in Sweden This Year

Japanese Stock Market Rises as Technology Shares Surge

Japanese Stock Market Rises as Technology Shares Surge

Swedish Apartment Prices Drop Since 2021: Where They Fell Most

Swedish Apartment Prices Drop Since 2021: Where They Fell Most

Lyten Signs Collective Agreement After Northvolt Acquisition

Lyten Signs Collective Agreement After Northvolt Acquisition

Democrat Urges Trump to Release Job Figures Amid Government Shutdown

Democrat Urges Trump to Release Job Figures Amid Government Shutdown

Wall Street Hits New Record Levels Amid Tech Stock Gains

Wall Street Hits New Record Levels Amid Tech Stock Gains

Stegra to Purchase Iron Ore from Blacklisted Vale

Stegra to Purchase Iron Ore from Blacklisted Vale

Tesla Exceeds Q3 Delivery Expectations with 497,100 Cars

Tesla Exceeds Q3 Delivery Expectations with 497,100 Cars

US Urges Astra Zeneca to Move Headquarters to New York

US Urges Astra Zeneca to Move Headquarters to New York

Proposal for New Nuclear Waste Management Organization in Sweden

Proposal for New Nuclear Waste Management Organization in Sweden

Sweden Prepares Crisis Guide for Businesses Amid Potential War

Sweden Prepares Crisis Guide for Businesses Amid Potential War

Danish State Loses Major Tax Case Over 12 Billion Kronor Fraud

Danish State Loses Major Tax Case Over 12 Billion Kronor Fraud

Folk High School Program Extended for Long-Term Unemployed

Folk High School Program Extended for Long-Term Unemployed

Volvo's Rechargeable Car Sales Decline Despite Overall Growth

Volvo's Rechargeable Car Sales Decline Despite Overall Growth

Most Swedish Companies Do Not Report Crimes to Police

Most Swedish Companies Do Not Report Crimes to Police