United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Is Europe Next on Trump's Tariff Hit-List?

Video Credit: The Street - Duration: 01:25s - Published < > Embed
Is Europe Next on Trump's Tariff Hit-List?

Is Europe Next on Trump's Tariff Hit-List?

President Donald Trump reminded investors Tuesday that Europe, and its $1.2 trillion auto sector, might be next on his tariff hit-list.

Trump tweeted that the euro, as well as other global currencies, are "devalued" against the dollar, which itself is trading a two-and-a-half month low on foreign exchange markets, and that this put the U.S. at a disadvantage in world trade.

TheStreet's founder, Jim Cramer, thinks Trump's use of tariffs to extract concessions on non-trade issues, such as with Mexico and immigration, raises huge risks for European carmakers, which could find themselves on the business end of fresh U.S. levies if the President were to use tariffs to compel countries such as Germany and France to increase their NATO spending commitments.

Real Money contributor Stephen Guilfoyle said the government is more likely than not to use tariffs for political ends following the weekend agreement with Mexico.

Germany reaffirmed a commitment to increase its military spending to 2% of its GDP by 2024 following a series of tense meetings with Trump at last year's NATO summit, but indicated last month that its 2019 outlay would only rise to around 1.35% and that it would only spend 1.5% of its GDP by the 2024 deadline.

Related.

Old Mo, Tariffs Weaponry, a Need for Easing and AMD Revives: Market Recon Exclusive Insight Into Jim Cramer's Charitable Portfolio

0
shares
ShareTweetSavePostSend
 

You Might Like

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.