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President Donald Trump just declared trade war—again. Next week, new tariffs will drop, and this time, “everyone” is on the line, the president said on Friday at the White House during talks with Japanese Prime Minister Shigeru Ishiba. Trump said he plans to announce the full details at a press conference early in the week, likely Monday or Tuesday. “We’ll be treated evenly, no more, no less,” he told reporters from the Oval. He didn’t specify which countries would get hit or the exact rates, but the warning is broad enough to send US trading partners scrambling. “I think that’s the only fair way to do it. That way, nobody’s hurt. They charge us. We charge them. It’s the same thing. I seem to be going in that line as opposed to a flat fee, tariff,” Trump said. Trump’s biggest targets Automobiles are right in Trump’s crosshairs. “That’s always on the table. It’s a very big deal,” he said during the press conference. The auto industry could see sweeping tariffs directed at rebalancing trade deficits, especially with Europe as Trump isn’t a fan of the European Union’s value-added tax (VAT), which hits US exports particularly hard. He criticized the EU for setting VAT rates that sometimes go well above 15%, making it expensive for American products to compete. “That levy is through the roof,” Trump told the reporters, pointing out Europe as a major problem. The president also said that these tariffs may replace the flat 10-20% universal import duty plan he discussed during his campaign. Instead of blanket tariffs, Trump now prefers a tailored, tit-for-tat system. “I seem to be going in that line as opposed to a flat fee, tariff,” he explained, adding that he’d rather hit countries where it hurts most. Along with cars, Trump is eyeing…

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Filed under: News - @ February 8, 2025 5:18 am