Former President Donald Trump has issued a warning of increased import tariffs on the European Union (EU) and Canada if they collaborate “to inflict economic damage” on the United States.
“Should the European Union partner with Canada to cause economic harm to the USA, we will impose substantial tariffs, significantly higher than what is currently proposed, to safeguard the best ally that each of those nations has ever had!” Trump stated in a post late on Wednesday on Truth Social.
Despite this renewed threat, financial markets remain stable, with Bitcoin holding steady below $88,000. Germany’s DAX futures dropped by 0.3%, while Wall Street indices moved sideways to slightly positive.
The market’s stability may be attributed to Federal Reserve Chairman Jerome Powell’s recent remarks suggesting that inflationary pressures from tariffs might be temporary.
