Trump's Tariff Threat: A Negotiation Strategy
Treasury Secretary Scott Bessent stated that President Trump doubts the quality of the EU's trade offers to the U.S. He expressed that the threat of a 50% tariff by June 1 is intended to intensify negotiations. Other U.S. trading partners, unlike the EU, are negotiating in good faith.
- Country:
- Canada
In a bold statement, Treasury Secretary Scott Bessent revealed on Friday that President Donald Trump regards the European Union's trade proposals as insufficient. Trump's administration aims to use the looming threat of a 50% tariff set for June 1 as leverage to accelerate negotiations with the EU.
During an interview with Fox News Channel, Bessent emphasized that while many U.S. trade partners are engaging in negotiations earnestly, the European Union remains an exception.
The intended tariff serves as a strategic move to 'light a fire under the EU,' urging a more equitable trade arrangement.
(With inputs from agencies.)
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