If you give Trump an inch, he'll be asking for a mile. And even if you don't, it'll happen anyway. That's what the EU is dealing with right now as a report emerges that the latest trade demands from the US threatens to undo the framework agreement struck between the two in August.
As things stand, there is a 15% ceiling to tariffs on most goods from the EU but sources are saying that the US has resisted adding goods such as wine and spirits to the list of imports that are exempt from the tariffs. Adding to that, discussions to cut the 50% US tariffs on steel and aluminum are said to have made little progress.
And now, EU officials are starting to be concerned that the US is preparing more potential tariffs on other sectors like medical devices and technologies; while at the same time expanding the list of derivative steel and aluminum products covered by the 50% tariffs rate.
It looks like the trade drama will be starting up again. Most countries are hoping to buy time long enough to ride out the storm during these next four years. But as Trump remains at the center of it all, that is a long time to gamble as there's no telling when the next thunder strike might be.
