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Trump says EU "in for tariffs", warns of 10% rate on China

Trump says EU "in for tariffs", warns of 10% rate on China

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The articles describe US President Donald Trump's stance on tariffs and trade with the European Union and China. Trump has announced plans to impose tariffs on the EU, citing the need for "fairness" and to rectify trade imbalances between the two entities. He has also threatened to impose tariffs on China, the world's second-largest economy, with a 10% duty on Chinese imports possible as early as February 1.

Mao Ning
Chinese Ministry of Foreign Affairs
1. We have always believed that there are no winners in a trade war or a tariff war.
Ursula Von Der Leyen
European Commission
1. We will be pragmatic, but we will always stand by our principles, to protect our interests and uphold our values.
Donald Trump
Republican Party
1. You can't get fairness unless you do that.
2. They treat us very, very badly. So they're going to be in for tariffs.
3. Probably February 1 is the date we're looking at.
4. The European Union is very, very bad to us.
Manoj Kewalramani
Takshashila Institution
1. The Biden administration levy has tabled restrictions on trade and tech with China, which will be difficult for Trump to walk back on.
2. We'll have to wait and see whether anything close to the 60 percent number is reached.
3. I do anticipate an increase in tariffs, but maybe not as big as 60 percent.
Carlos Lopes
Chatham House
1. The timing of tariffs is often subject to political manoeuvres and administrative processes, and the lack of transparency in these decisions undermines the predictability of the trade system.
2. Importantly, China will benefit from the US's unilateral approach, as it positions itself as a defender of multilateralism, creating new opportunities to fill the vacuum left by the US in global trade leadership. Instead of isolating China, US actions risk driving its further integration into alternative economic networks, weakening the very leverage the US seeks to maintain.
3. Climbing out of the deficit requires more than tariffs or protectionist measures; it demands strategic investments in technology, infrastructure, and workforce development.
4. The current surge may offer short-term gains for both economies, but it highlights the fragility of a system increasingly dominated by trade wars and unpredictability.
5. Unilateral US actions, without consultation with trading partners or adherence to multilateral norms, create uncertainty for businesses and investors. This unpredictability not only disrupts supply chains but also weakens confidence in the rules-based global trading order, which is already under strain.
6. While this influx temporarily fuelled China's trade surplus, the broader trade relationship has been undermined by US policies.
7. Escalation of tariffs and a continuation of unilateral measures could deepen the erosion of trust in the global trade system, further pushing China to diversify its partners and reduce reliance on the US market.
8. Trump sees tariffs as important, not just from an economic point of view, but also from a negotiating point of view.
9. China has already demonstrated resilience by diversifying trade partnerships and doubling down on domestic innovation. It will likely expand its Belt and Road Initiative [BRI] and invest heavily in advanced sectors like green energy and technology to sustain its export competitiveness.

Trump says EU "in for tariffs", warns of 10% rate on China

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