EU has ‘no choice’ but to agree a trade deal with U.S., says Trump

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U.S. President Donald J. Trump has told CNBC Wednesday that European Union keeps “no choice” but to make a new trade agreement with the United States.

Trump claims EU has not other choice but to agree a trade deal with the U.S.
Trump speaks with CNBC’s Joe Kernen at the World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020.

The pair had a “great talk,” President Trump told CNBC’s Joe Kernen after meeting with European Commission’s President Ursula von der Leyen at the World Economic Forum Davos, Switzerland.

In view of ongoing trade negotiations, Trump has warned new tariffs on European cars in a bid to strong-arm EU leaders.

Mr Trump in a yesterday’s meeting claimed to have told EU President that in the absence of a trade agreement, he would need to “take action” in terms of “very high tariffs on their cars and other things.”

According to the U.S. President, Europe has been “very tough to deal with and had “taken advantage” of the United States. He suggested that the bloc has “no other choice” but to sign a deal.
“We’ve had a remarkable deficit for many, many years – more than $150 billion with Europe,” Trump said, adding that he would be “really surprised” if he did have to introduce new tariffs.

The U.S. goods and services trade deficit with European Union remained at $109 billion in 2018, says the Office of the U.S. Trade Representative.

U.S. tradings of goods and services to the European Union added an approximate 2.6 million jobs in 2015, revealed by the latest available data from the Department of Commerce.

Juncker was ‘unacceptable’

Donald Trump in 2018 had agreed with von der Leyen’s predecessor Jean-Claude Juncker to inaugurate negotiations on a new trade agreement to avoid placing tariffs.
The EU Commission has since settled on a new negotiating mandate to commence those trade talks, but the U.S. has yet to respond a readiness to begin those talks.

“I wanted to wait until I finished with China, I didn’t want to go with Europe and China at the same time,” Trump told CNBC.
“And saying frankly, Jean-Claude was a friend of mine, but he was almost impossible to deal with. I wished to do Mexico and Canada first. Now they’re all done, and we’re moving to do Europe,” Mr Trump added.

U.S. President also confirmed that negotiations regarding a potential trade deal are underway with the U.K Primer Minister Boris Johnson at a time when U.K set to leave the EU on January 31st.
“Boris and I are friends, and he wants to make a deal, and that’s okay with me. They want it, they need it, President Trump added to his talk with Joe Kernen.
Any trade deal between the U.S. and the United Kingdom could only enter into practice at the completion of the transition period with the EU, currently set to last until the end of 2020.

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