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Trump Announces Tariff Hike on 8 NATO Members; EU Parliament Member Mulls Halting Zero-Tariff Policy on US
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US President Donald Trump announced on Truth Social that additional tariffs will be progressively levied on goods imported into the US from eight NATO member states: Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland. This measure will continue until a comprehensive agreement for the acquisition of Greenland is reached. The post stated that the additional tariffs will commence on February 1, starting at 10%, and will increase to 25% by June 1. These tariffs are expected to be added on top of the existing tariffs the US imposes on goods from these countries. So far, the average tariff rate on EU goods is about 15%, while it is approximately 10% for UK goods, with specific rates varying by industry. In sensitive sectors such as metals and certain automobiles, multiple measures have raised the effective tariff rate to between 15% and 20%. European Commission President Ursula von der Leyen remarked that the EU chooses partnership and cooperation, selecting businesses and people. President of the European Council Antonio Costa mentioned that the EU is coordinating a joint response to the threat and is committed to defending international law. Senior European Parliament member Manfred Weber emphasized that the EU cannot reach a trade agreement with the US at this stage and stressed the need to suspend the zero-tariff policy on US goods. AASTOCKS Financial News Website: www.aastocks.com |
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