Donald Trump has asked top cabinet officials to undertake a sweeping review of US trade policy that could see the European Union hit with new “reciprocal tariffs”.
The US president signed a memorandum on Thursday tasking his commerce secretary nominee, Howard Lutnick, and his top trade official, Jamieson Greer, to oversee a country-by-country analysis of US trade ties and propose specific “remedies” in cases of alleged discrimination against American companies.
Such remedies, which Lutnick said could enter into force by April 2, will seek to match the tariff rate other countries charge on US imports. They will also address other cases of “unfair” economic protectionism, such as high levels of state subsidies.
“I’ve decided, for purposes of fairness, that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America,” Trump said. “In almost all cases, they’re charging us vastly more than we charge them but those days are over.”
Trump also took specific aim at the EU’s “very nasty” trade policies, repeating his complaints at Brussels’ decisions to fine US tech firms such as Google, Apple, and Facebook.
“We all love Europe, love the countries in Europe, but the European Union has been absolutely brutal on trade,” he said, adding: “The EU’s been very nasty and… they haven’t treated us properly.”
Trump also suggested that countries could avoid new duties by shifting production to the US. “If you…
