President Trump reportedly rejected a trade deal with the European Union as Americans would be unfairly disadvantaged by it, the president announced during a segment on Fox Business.
According to the Washington Examiner, in the deal, both sides would have had to agree to zero tariffs on automobiles. This, President Trump claimed, would put Americans at a loss “because a Chevrolet will never sell [in Europe] like a Mercedes sells here.”
“They’ve offered me that,” Trump continued. “They’ve said, ‘Oh, I have an idea’ … They’ve offered me that deal. I wouldn’t do that deal. I would do it for certain products, but not cars.”
The president also shared what he believed to be the “end game” of these European car manufacturing companies: “I’ll tell you what the end game is. They’ll build their plants in the United States and they have no tariffs.”
Trump won’t let that happen, he said.
Here’s more, from the Washington Examiner:
The U.S. and EU agreed to talks last year, but have yet to settle on date and have struggled to reach agreement on what they will even talk about. The Trump administration is demanding that the EU put its agricultural policies up for negotiation but EU officials have refused to allow that.
The Commerce Department sent the White House a still-confidential report last month that is widely suspected to back imposing 25 percent tariffs on autos and auto parts, a policy that would hit the EU hard. Trump has until mid-May to announce a policy based on that report.
Asked Friday if those imports posed a national security risk, Trump said, “Well, no. What poses a national security risk is our balance sheet.”