Washington, August 5 (H.S.): Former U.S. President Donald Trump has issued a fresh and stern warning to the European Union (EU), threatening to impose a 35% import tariff if the EU fails to fulfill its promised investment of $600 billion under a previous agreement with the United States.
Speaking at a public rally, Trump said, “They (the EU) reduced their tariffs. They gave us $600 billion, in return for which I slashed their tariffs from 30% to 15%. Some countries asked why they’re getting lower tariffs, and I told them – because they gave me $600 billion.”
Trump insisted that this amount was not a loan but a gift. “This money can be invested in any sector. The EU has exploited us for years. Now it’s time they pay their dues.” He also took a dig at the Prime Minister of Switzerland, saying she wasn’t willing to listen to his reasoning.
Turning his focus to the pharmaceutical sector, Trump adopted a hardline stance. He said, “They’re making huge profits from pharmaceutical products, which are being manufactured in countries like China and Ireland. I will announce a separate set of tariffs on these products within the next week or two.” He emphasized that these tariffs would fall under a “special category,” distinct from the standard 15% tariff, akin to those applied to steel and aluminum.
Trump further warned that while the tariffs on pharma goods will start low, they will gradually rise over the next 12 to 18 months — potentially reaching between 150% and 250%. His stated goal is to ensure that “medicine is manufactured within the United States.”
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Hindusthan Samachar / Jun Sarkar
