Donald Trump has threatened to impose import duties of 15% or 20%, which would breach good faith in ongoing negotiations. His statements indicate he may impose a 35% tariff on Canadian imports and universal tariffs on other trading partners. Trade ministers are set to meet in Brussels to potentially extend a 90-day pause on retaliation in anticipation of negotiation outcomes. EU leaders already expect a 10% tariff as part of doing business with the Trump administration, which is significantly higher than previous rates. An agreement is pending Trump's approval.
If Trump carries through with his threat to hike import duties to 15% or 20%, it would breach good faith in negotiations, leading to calls for counter tariffs.
Trade ministers in Brussels are expected to agree to extend the current 90-day pause on retaliation if a deal is announced today or over the weekend.
Trump declared he would impose a 35% tariff on imports from Canada and blanket tariffs of 15% or 20% on most other trading partners.
EU diplomats indicated that an agreement in principle is waiting for Trump's approval, since Wednesday marked his original self-imposed deadline for a deal.
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