{"id":137691,"date":"2025-03-16T15:55:38","date_gmt":"2025-03-16T15:55:38","guid":{"rendered":"https:\/\/peraltafinancing.com\/alcohol\/trump-expands-trade-threats-in-global-game-of-chicken\/"},"modified":"2025-03-16T15:55:38","modified_gmt":"2025-03-16T15:55:38","slug":"trump-expands-trade-threats-in-global-game-of-chicken","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=137691","title":{"rendered":"Trump Expands Trade Threats in Global Game of Chicken"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">For the second time this week, President Trump has threatened to disrupt trade with a close ally for retaliating in a trade war that he started \u2014 a tactic that could lead to compromise, or to economic spats that spiral further out of control.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">On Thursday morning, Mr. Trump tried to cow the European Union into submission, threatening <a class=\"css-yywogo\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114155003492555395\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">in a social media post<\/a> to put a 200 percent tariff on European wine and Champagne unless the bloc dropped a 50 percent tariff on U.S. whiskey. The European Union had imposed that tariff in response to levies that Mr. Trump put on global steel and aluminum on Wednesday.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Trump deployed a similar tactic against Canada on Tuesday, threatening to double 25 percent tariffs on Canadian steel and aluminum to try to get Ontario to lift a surcharge on electricity sold to the United States. The province had imposed the charge after Mr. Trump put other tariffs on Canada this month.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">After Ontario suspended its surcharge, Mr. Trump walked back his threats.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Over the last several weeks, Mr. Trump has presided over a confusing and potentially economically devastating back and forth of tariffs and tariff threats, playing a global game of chicken as he tries to get some of the United States\u2019 closest allies and trading partners to back down.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Mr. Trump has wielded the tariff threats without regard for their economic consequences and, increasingly, seemingly without regard for the impact on stock markets. The S&amp;P 500 slumped again on Thursday after Mr. Trump threatened Europe and reiterated at the White House that he would impose big tariffs.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">When asked whether he might relent on Canada, which sent a delegation to the United States on Thursday to try to calm trade tensions, Mr. Trump said: \u201cI\u2019m not going to bend at all.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">He said the United States didn\u2019t need imports like lumber and energy from Canada, one of America\u2019s largest trading partners. \u201cWe don\u2019t need anything they have,\u201d he said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The president, who spoke to reporters during a meeting with Mark Rutte, the secretary general of the North Atlantic Treaty Organization, acknowledged that his tariffs could cause \u201ca little disruption\u201d but said that \u201cit won\u2019t be very long.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cAnd we have to do this,\u201d he said. \u201cI\u2019m sorry, we have to do this.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Treasury Secretary Scott Bessent, asked on Thursday about market volatility and the economic effects of tariffs, said the White House was not concerned \u201cabout the short term.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe\u2019ve got strategic industries we\u2019ve got to have,\u201d Mr. Bessent said. \u201cWe want to protect the American worker.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Commerce Secretary Howard Lutnick also warned other countries against retaliating against the United States, saying in an interview on Bloomberg TV on Thursday that Mr. Trump could respond temperamentally.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cIf you make him unhappy, he responds unhappy,\u201d Mr. Lutnick said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Lutnick said some countries, like Britain and Mexico, had thoughtfully examined how they did business with the United States. But for countries that respond with further tariffs, \u201cthe president\u2019s going to deal with them with strength and with power,\u201d he threatened.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">It remains to be seen whether other countries will retaliate with their own levies and, if so, how many economic disagreements may spiral into true tit-for-tat trade wars. Mr. Trump has promised more levies on cars and other products to come in April.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Some governments, like those in Australia, Brazil, Britain, Japan and Mexico, have chosen not to retaliate for now, as they try other routes to defuse tensions with Mr. Trump. But China, the European Union and Canada have all made different calculations.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-3\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Those governments may be encouraged by domestic political constituencies to stand up to Mr. Trump\u2019s bullying or, in the case of Europe and China, emboldened by the size of their economies.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Some European officials said they wouldn\u2019t bow to pressure. In a statement on Wednesday, Ursula von der Leyen, the president of the European Commission, the bloc\u2019s executive arm, said that Europe needed to act to \u201cprotect consumers and business\u201d and that it would take \u201cstrong but proportionate\u201d countermeasures.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe will not give in to threats,\u201d Laurent Saint-Martin, France\u2019s foreign trade minister, <a class=\"css-yywogo\" href=\"https:\/\/x.com\/LaurentSMartin\/status\/1900169739302776980\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">said in a post<\/a> on X. Mr. Trump \u201cis escalating the trade war he chose to unleash,\u201d he added.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Canadian officials have also generally been outspoken against the United States, a dynamic that may be amplified by a political transition and an upcoming federal election in Canada.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cIf you hit us, we will hit back,\u201d Chrystia Freeland, a former Canadian minister of finance, said in an interview on CNN on Thursday. Ms. Freeland said that Canada was small but that it had leverage in the economic relationship because it was the largest export market for the United States by far.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-4\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cCanada is a more important export market for the U.S. than China, Japan, the U.K. and France combined,\u201d she said. \u201cYou guys are the country that invented the phrase \u2018the customer is always right.\u2019 Well, we\u2019re your biggest customer.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Trump may be gambling on the idea that other countries are more dependent on the U.S. market than the United States is on them. Canada sends about 80 percent of its exports to the United States, while roughly 17 percent of U.S. exports go to Canada.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But being larger and more distant, the European Union and China are less reliant on American buyers. The United States is the destination for about 20 percent of E.U. exports and about 15 percent of Chinese exports.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">On Thursday, Canada initiated a dispute at the World Trade Organization over the steel and aluminum tariffs that Mr. Trump had imposed the day before. China initiated a suit over a separate tranche of tariffs last month. But the W.T.O. challenges are largely a symbolic gesture, since the United States <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2019\/12\/08\/business\/trump-trade-war-wto.html\" title=\"\">disabled the organization\u2019s dispute settlement system<\/a> in Mr. Trump\u2019s first term.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Canadian officials were expected to meet with Mr. Lutnick to discuss trade issues on Thursday. A European spokesman said Maros Sefcovic, the European Union\u2019s trade commissioner, would talk with both Mr. Lutnick and Jamieson Greer, the U.S. trade representative, on Friday.<\/p>\n<p class=\"css-798hid etfikam0\">Jeanna Smialek<!-- --> and <!-- -->Matina Stevis-Gridneff<!-- --> contributed reporting.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>For the second time this week, President Trump has threatened to disrupt trade with a close ally for retaliating in a trade war that he started \u2014 a tactic that could lead to compromise, or to economic spats that spiral further out of control. On Thursday morning, Mr. Trump tried to cow the European Union [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":137692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12029],"tags":[2202,5784,57439,8791,52164,51788,24129,17090,1256,5714,52162,58899,16937,9792,1175,53956,52165,5099,16718],"dealstore":[],"offerexpiration":[],"class_list":["post-137691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alcohol","tag-aluminum","tag-canada","tag-champagne-wine","tag-chicken","tag-customs-tariff","tag-donald-j","tag-european-union","tag-expands","tag-game","tag-global","tag-international-trade-and-world-market","tag-steel-and-iron","tag-threats","tag-trade","tag-trump","tag-united-states-economy","tag-united-states-international-relations","tag-whiskey","tag-wines"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump Expands Trade Threats in Global Game of Chicken - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=137691\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Expands Trade Threats in Global Game of Chicken - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"For the second time this week, President Trump has threatened to disrupt trade with a close ally for retaliating in a trade war that he started \u2014 a tactic that could lead to compromise, or to economic spats that spiral further out of control. 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