Late yesterday Trump said the European Union “is really out of line”, while the UK is “out of line but I’m sure that one, I think that one can be worked out”.
The Telegraph cites a source in the Trump administration but that there wasn't a broad agreement. It also says that Trump is testing the waters with Canada and Mexico to find out what he can get away with.
The report also touches on a critical point around the emergency measures that Trump is trying to use.
The administration is thought to be using Canada and Mexico to “test the water” before using IEEPA to impose tariffs on the EU, The Telegraph understands.Another source close to the administration added: “There is a huge disagreement on if he can weaponise IEEPA but they are considering 10 per cent if they can.”The US constitution gives congress power over tariffs.
This article was written by Adam Button at www.forexlive.com. Read More Details
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