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Trump says EU has no choice but to enter into trade deal

United States President Donald Trump has said that the European Union has been left with no choice but to go ahead and negotiate a trade deal with the United States. On Wednesday, the President had met with President of European Commission Ursula Leyen during the World Economic Forum which has been going on in the city of Davos and said that the pair had a great talk.

In the ongoing discussions which are informal, Trump has made a threat of slapping tariffs on the cars of Europe in his attempt to strong-arm the leaders of the European Union. In the Meeting which took place Yesterday he has claimed to have told Leyen that without a trade deal he would be forced to take action in the form of tariffs which are extremely high specially on their cars.

Trump has said that the European Union has been very tough to negotiate with and had been taking advantage of United States however he suggested that now they are not in a position to refuse this deal. He said that they have had tremendous levels of deficit for a lot of years reaching even $150 million with the EU and added that he is going to be very surprised in case he would have to make that decision of implementing the tariffs.

The trade deficit of goods and services with the European Union had been $109 billion in the year 2018 as per the authorities. The exports of the goods and services from United States to the European Union had supported 2.6 million jobs as per the estimates made in the year 2015, as per the latest data which is available.

David Moran
David Moran Subscriber
EDITOR-IN-CHIEF At Market News Magazine

With an experience of 5 years and holding the position of Editor-In-Chief, David Moran is among the best assets we have. Having a professional writing skill set, he deals with writing reports and articles linked to the business world. He holds the responsibility to write everything relating to mergers & acquisitions, agreements & deals, latest news, recent trends, and so on. Being a fitness and health freak, David indulges into a few sports activities in free time.

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