The written submission sent by the EU also highlighted that European-owned car brands represented more than a quarter of U.S. car production. It added that this was mainly focused on exportation and any tariffs would fragment markets, raise prices for the American consumer and potentially lead to job losses.
Speaking to Fox News over the weekend, Trump said that the EU is “possibly as bad as China, just smaller” when speaking on trade deficits with other countries. He added: “It is terrible what they do to us.”
Read the full Financial Times article here.
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