Trump Threatens to Tax European Auto Imports amid Dispute over Tariffs

(From NBC News)

President Donald Trump kept up pressure on trading partners on Saturday, threatening European automakers with a tax on imports if the European Union retaliates against his plan to slap tariffs on aluminum and steel.

Trump’s tweet showed he is refusing to yield to U.S. business interests and foreign trading partners alarmed at the prospect of a trade war that rattled financial markets this week.

“If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S.,” Trump wrote on Twitter. “They make it impossible for our cars (and more) to sell there. Big trade imbalance!”

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