Confessing tariffs fuel inflation, Trump orders up a plan for more
Shafaq News/ US President DonaldTrump admitted Thursday that "prices may rise" in the United Statesas a result of tariffs imposed on both allies and competitors alike.
Speaking to reporters at the WhiteHouse, Trump expressed confidence that inflation—an issue central to hiscampaign last year—would ultimately decrease. His comments came after heannounced his decision to escalate the ongoing trade war by imposing reciprocaltariffs on a broad range of nations.
Trump stated that US allies"are often worse than our enemies" when it comes to trade practices.
On Wednesday, European Union membersreaffirmed their unity and commitment to defending the EU's steel and aluminumindustries following Trump's announcement of new tariffs.
In the latest chapter of the globaltrade war he initiated upon taking office on January 20, Trump signed anexecutive order Monday setting March 12 as the start date for a 25% tariff onsteel and aluminum imports.
These tariffs will apply to allexporting countries "without exception," as confirmed by theRepublican president.
For the European Union, this moveeffectively nullifies an agreement reached with the United States in 2021,which had temporarily suspended tariffs imposed during Trump’s first term.
