Trump’s trade chief MOCKS Brussels’ tiny tariff threat and reveals why EU are POWERLESS


Wilbur Ross differentiated Bloomberg News why he believes the European Union are powerless in the EU-US traffic war.

The US commerce secretary said the EU will not follow through on their excise threats, because doing so would violate the WTO rules.

There father been escalating tensions between the EU and US following Donald Trump’s bulletin of national security tariffs of 25 percent on steel and 10 percent on aluminum.


Wilbur Ross told Bloomberg Newsflash why he believes the European Union are powerless in the EU-US trade

In response, the EU has pleaded to be exempt from the assessments and threatened retaliation if the tariffs go ahead.

However, Mr Ross, who has defended President Trump’s conducts, said the EU will not follow through on their threats.

He said: “There is a in general process they have to go through if they want to push toe any retaliation measures under the WTO rules.

“Unless the EU are going to violate the WTO, this is not wealthy to be an instantaneous thing.

“Under the WTO rules, the EU cannot put in these kinds of tolls except after the WTO has found that the move by the U.S. violated the WTO rules.

“I believe it’s highly unlikely that the WTO will think that it can tell the Pooled States government what’s in its national security interest.”

The top advisor to Mr Trump also appeared to decry the EU’s own proposed tariffs, explaining: “Let’s put it into perspective.

“The tariffs that be enduring been potential proposed by the European Union covers something disposed to $3.5 billion of products.

“We have approximately an $18-to-$19-trillion restraint, so this is two-tenths of one percent of our economy.

“That doesn’t sound along the same lines as much of a roar to me.”

Earlier today, the EU’s trade chief Cecilia Malmström met her American counterparts in Brussels to whittle out exemptions from the tariffs.

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