U.S. - Ireland meeting: POTUS threatens retaliation against EU
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On Wednesday, March 12th, a bilateral meeting took place at the White House between U.S. President Donald Trump and Irish Prime Minister Micheál Martin. During the Oval Office's press conference, Trump stated that additional tariffs would be imposed on European goods exported to the U.S. if the EU Commission proceeds with imposing tariffs on U.S. goods.
Trump also claimed that Ireland, like all European countries, is taking advantage of the United States and that, through its low-tax fiscal policies, it had facilitated relocation for many U.S. pharmaceutical companies such as Pfizer and Boston Scientific.
Trump's focus on the trade war is now worrying investors, businesses, and consumers, especially due to the increasingly likely prospect of a recession. There is also growing concern over the strain in relations between the U.S. and Canada, which is currently the largest supplier of steel and aluminum to the U.S. and has announced the imposition of 25% tariffs on these materials, as well as on computers, sports equipment, and other goods worth a total of $20 billion. Additionally, the Canadian Central Bank has decided to cut interest rates in anticipation of a likely economic disruption.
Trump also claimed that Ireland, like all European countries, is taking advantage of the United States and that, through its low-tax fiscal policies, it had facilitated relocation for many U.S. pharmaceutical companies such as Pfizer and Boston Scientific.
Trump's focus on the trade war is now worrying investors, businesses, and consumers, especially due to the increasingly likely prospect of a recession. There is also growing concern over the strain in relations between the U.S. and Canada, which is currently the largest supplier of steel and aluminum to the U.S. and has announced the imposition of 25% tariffs on these materials, as well as on computers, sports equipment, and other goods worth a total of $20 billion. Additionally, the Canadian Central Bank has decided to cut interest rates in anticipation of a likely economic disruption.