The White House’s renewed trade threats are driving American allies to join forces against Washington, weeks before US tariffs are set to ramp up.
US President Donald Trump threatened 30% tariffs against the European Union and Mexico over the weekend, upending growing hopes for stability in Washington’s trade policy.
Brussels is looking to increase its engagement with other economies hit by the duties, Bloomberg reported, including deepening trade ties with Asian countries: It reached a preliminary agreement with Indonesia on Sunday.
Mexico, too, is considering its options, with one of the country’s former top diplomats suggesting a new trade deal between Canada, the EU, Mexico, and the UK. “In extreme times, extreme thinking,” he wrote.
AD