Former president Donald Trump has revealed his stance when it comes to the imposition of tariffs on the European Union, saying that EU would be paying a "big price" for not buying sufficient American exports if he becomes the next president.
"I'll tell you what, the European Union sounds so nice, so lovely, right? All the nice European little countries that get together," he said during a rally in Pennsylvania on Tuesday, Reuters reported.
He also promised to pass the "Trump reciprocal trade act."
The former president then enumerated the things that EU seems not to be "taking," referencing to the items that were not being imported from the U.S.
"They don't take our cars. They don't take our farm products. They sell millions and millions of cars in the United States. No, no, no, they are going to have to pay a big price," Trump said.
During his campaign speeches, he has already promised imposing higher tariff rates of 10% from all countries and 60% duties on China, Fortune reported.
While Trump may have believed on the viability of his proposal, it did not sit well with economists. The latter was saying that such a move could hit supply chains all over the world and could very likely trigger retaliation and raise costs.
Previously, Trump has mentioned that Taiwan needs to pay the U.S. for its defense. He also mentioned that the country has allegedly taken the semiconductor business of the U.S. Accordingly, the U.S. is bound by law to provide Taiwan with a means to defend itself even though that there is a lack of formal diplomatic ties between the two.
Meanwhile, Vice President Kamala Harris, during her biggest rally held in Washington on Tuesday warned thousands of people about her opponent, Trump. She said that the former president was seeking unchecked power as the elections are already drawing close.
"One week from today you will have the chance to make a decision that directly impacts your life the life of your family and the future of this country we love," Harris told the cheering crowd. "And it will probably be the most important vote you will ever cast.
"This election is more than just a choice between two parties and two different candidates. It is a choice about whether we will have a country rooted in freedom for every American — or ruled by chaos and division," Harris noted.
