FOX Enterprise contributor Katrina Campins joins ‘The Huge Cash Present’ to touch upon the sentiment surrounding President Donald Trump’s looming tariff plans.
President Donald Trump early Thursday threatened even bigger tariffs on the European Union and Canada if each economies labored collectively to do “economic harm to the USA.”
Writing on his Fact Social platform, the president warned: “If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of these countries has ever had!”
UAW PRAISES TRUMP’S 25% TARIFF ON AUTO IMPORTS: ‘VICTORY FOR AUTOWORKERS’
U.S. President Donald Trump delivers remarks throughout a Cupboard assembly on the White Home on March 24, 2025, in Washington, DC. (Win McNamee/Getty Photos / Getty Photos)
The publish comes after the president introduced on Wednesday he would impose a 25% tariff on all imported autos.
The European Vehicle Producers’ Affiliation (ACEA) issued a press release Thursday saying it was “deeply concerned” by Trump’s announcement of extra tariffs.
“European automakers have been investing in the US for decades, creating jobs, fostering economic growth in local communities, and generating massive tax revenue for the US government,” ACEA Director Common, Sigrid de Vries stated in a press release. “We urge President Trump to consider the negative impact of tariffs not only on global auto makers but on US domestic manufacturing as well.”
President Trump views tariffs as a means to herald tax income to finance his plans for tax cuts whereas spurring a revitalization of home manufacturing.
President Donald Trump signing govt orders imposing 25-percent tariffs on imported metal and aluminum as a part of his ongoing effort to overtake the U.S. buying and selling relationship with the remainder of the world. (Jabin Botsford/The Washington Publish through Getty Photos / Getty Photos)
However the president’s sweeping tariffs have escalated a commerce struggle with U.S. allies, notably Canada, Mexico and the EU.
WATCH: HOW INVESTORS CAN TAKE ADVANTAGE OF PRESIDENT TRUMP’S TARIFFS AGENDA
Earlier this month, Canada – the most important international provider of metal and aluminum to the U.S. – introduced $21 billion in extra tariffs in opposition to the U.S. in response to Trump’s 25% tariffs on each commodities.
U.S. Secretary of Treasury Scott Bessent and U.S. President Donald Trump look on through the White Home Digital Property Summit within the State Eating Room of the White Home on March 7, 2025. (Anna Moneymaker/Getty Photos / Getty Photos)
That additionally sparked retaliation from the EU, which introduced retaliatory tariffs that will apply to American exports definitely worth the equal of $28 billion.
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FOX Enterprise’ Greg Norman and Alex Nitzberg contributed to this report.
