Europe unlikely to ever stomach level of economic subservience needed to keep Trump happy
The chaos that comes with Donald Trump’s return to the US presidency has been rumbling towards Europe for some time. Photograph: Julia Demaree Nikhinson/APcan continue to have a good relationship, working closely together, as they have in the past. The only problem is the new occupant of the White House has different ideas.Trump has been clear about what he wants.
“The European Union is very, very bad to us, they treat us very badly. They don’t take our cars, they don’t take our cars at all, they don’t take our farm products,” Trump said this week. “They are going to be in for tariffs… It’s the only way you’re going to get fairness,” he said. Trump also has the amount of tax US multinationals pay overseas in his crosshairs. Officials in the Department of Finance are busy trying to interpret the intent of a day-one executive order that withdrew the US from a global tax deal. Parts of the order suggest Trump plans to scrutinise how US multinationals are taxed abroad. He has asked the treasury to investigate “discriminatory foreign tax practices” and report back within 60 days.
EU officials hope they might find common ground with the White House on China, as Trump’s animosity towards Beijing is obvious. The EU can point to a firmer line it has taken recently to levy tariffs on electric vehicles produced in China, to stop cheaper imports undercutting the European market.
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