Trump Threatens Heavier Tariffs on EU, Canada Over Alleged Economic Moves Against U.S.

President Donald Trump has warned that he will escalate tariffs on imports from the European Union (EU) and Canada if they engage in actions he views as detrimental to the U.S. economy.

“If the European Union collaborates with Canada to inflict economic harm on the USA, massive tariffs—far greater than those currently planned—will be imposed on both nations to safeguard America’s interests!” Trump wrote on Truth Social late Wednesday night.

Markets showed little immediate reaction to the statement. Bitcoin (BTC) remained below $88,000, Germany’s DAX futures dipped 0.3%, and U.S. stock futures remained flat to slightly positive.

Market analysts believe the restrained response may be attributed to Federal Reserve Chairman Jerome Powell’s recent remarks suggesting that any inflationary effects from tariffs would likely be temporary rather than a long-term drag on the economy.