The EU's letter reportedly said that it has not yet decided on countermeasures to possible auto tariffs, but said it is "likely" to apply them to "a significant volume of trade" in the event Trump imposes such tariffs.
The European Union, Canada and Mexico - all subject to tariffs on steel and aluminum exports to the USA - have also started imposing duties on American goods in response.
Canada is the United States' second-biggest trading partner in goods, just behind China.
The European Union has reportedly threatened to retaliate against US President Donald Trump in the escalating trade conflict developing across the Atlantic.
"To be honest with you, Prime Minister Trudeau, I respect".
In its submission, the European Union argues that trade restrictions would likely to lead to higher costs for USA -based producers, and in effect become a tax on American consumers.
"In general, it was an attack on the president", Kudlow claimed.
Mr. Trump's administration wants Germany - which would be hardest hit by automotive tariffs - to pressure the European Union to come to an agreement.
"It's awful what they're doing to us", he said.
China is expected to impose a new 25-percent tax on soybeans in July. But Italy blocked their formal adoption until the migration issue was fully addressed. He dismissed suggestions that his attacks on the European Union were counterproductive. But he lifted the exemptions the same week he met with Group of Seven leaders in Quebec last month.
Retaliation for his tariffs came swiftly.
TARIFFS LOOM: The U.S. will start imposing a 25 percent tariff on $34 billion in Chinese imports this Friday.
Trump, however, has repeatedly defended his position, criticizing the European Union, Canada, and China on trade both during the Fox interview and at a recent rally in SC, where Trump went as far as to declare the United States the "piggybank" other nations like to take from. On Friday, Canada struck back at USA steel and aluminium tariffs, vowing to impose punitive measures on US$12.6 billion (S$17.23 billion) worth of American goods until Washington relents.
Global equities fell on Monday as investors anxious about an escalation of the trade disputes.
The commission said global retaliation against USA tariffs on auto imports would have a bigger impact on the U.S. economy than those provoked by the Trump administration's steel and aluminium tariffs.
- Trump Orders Flags To Half-Staff In Honor Of Capital Gazette Shooting Victims
- These 3 NBA Stars Will All Be Lakers Targets In 2019
- Brazil vs Mexico: Neymar steers Selecaoto last eight
- Tesla hits 5000-a-week Model 3 production goal
- Samsung phones are randomly sending photos to contacts
- Brazil, Belgium Target World Cup Quarters After Spain Bow Out
- Ex-Lakers center Julius Randle joining Pelicans on 2-year, $18M deal
- Iran to allow private sector to export oil, beat U.S. sanctions
- Ex co-worker no fan of Democrat darling Alexandria Ocasio-Cortez
- N. Korea's Kim Asked China's Xi to Help Lift Sanctions