Trump appeals ruling: "Becoming a developing country without tariffs"
The White House has already appealed Friday's ruling that invalidated most of the Trump administration's tariff policy to the US Supreme Court (HD). Trump stated this at a press conference.
- We would become a developing country if the ruling is not overturned, he said, adding:
- If the ruling goes against us, we would be forced to pay back several trillion to countries that have cheated us.
Trump will also demand that the HD review the tariff case shortly.
According to the president, Friday's ruling is the reason for today's broad declines. Wall Street needs the tariffs, says Trump.
The White House has already appealed Friday's ruling that invalidated most of the Trump administration's tariff policy to the US Supreme Court (HD). Trump stated this at a press conference.
- We would become a developing country if the ruling is not overturned, he said, adding:
- If the ruling goes against us, we would be forced to pay back several trillion to countries that have cheated us.
Trump will also demand that the HD review the tariff case shortly.
According to the president, Friday's ruling is the reason for today's broad declines. Wall Street needs the tariffs, says Trump.
EU's Social Democrats challenge von der Leyen
The Socialist Group in the European Parliament (S&D) opposes the trade agreement that European Commission President Ursula von der Leyen struck with US President Donald Trump in July. This is reported by Politico.
The opposition is making it more difficult for von der Leyen to secure a majority behind the deal, which according to the political site could throw the transatlantic trade relationship back into chaos.
According to the agreement, most EU goods will receive a US tariff of 15 percent. In return, the EU is expected to remove its tariffs on US industrial goods – including the 10 percent that applies to cars – and open the market more for certain agricultural and fishing products.
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