President Donald Trump late last week threatened to impose tariffs on cars made in the European Union (EU) and on unspecified Chinese products unless the trading partners reduce their duties on U.S. lobster.
The president has frequently threatened tariffs on autos imported from the EU, mainly to get the trading bloc to agree to negotiations and force German automakers to commit to new investments in the U.S.
As for China, the Phase One agreement with the country was expected to result in changes in several trade areas, but Trump, speaking in Maine standing behind lobster traps, indicated China could be hit with tariffs as well.
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