Trump Trade War Diary — Day 37

Today, President Trump held his first cabinet meeting of his second term, featuring notable attendees including Elon Musk.

Trump’s First Cabinet Meeting and EU tariffs

Today, President Trump held his first cabinet meeting of his second term, featuring notable attendees including Elon Musk. During the meeting he made the following remark:

“We have made a decision and we’ll be announcing it very soon,” Trump said when questioned about his plans for EU tariffs. “It’ll be 25 per cent generally speaking, and that will be on cars and all other things.”

Since by now everybody knows that Trump’s words are not always followed by actions, the markets did not react much to the news. However, the EU officials are preparing for the worst and are considering retaliatory measures.