US President Donald Trump will give in to pressure from Germany and Europe in the escalating trade war. This was stated by German Economy Minister Robert Habeck, quoted by "Reuters".
"What I see is that Donald Trump is bending under pressure, correcting his statements under pressure, but the logical consequence is that he must also feel the pressure and this pressure must now be exerted by Germany, by Europe,", Habeck emphasized at a press conference.
Yesterday Trump announced global reciprocal tariffs during an event at the White House.
He also showed a table with the new rates imposed in most countries. They range from 10% to 49%. A higher rate is imposed on those countries that are considered "bad" partners.
For example, for the European Union, tariffs are 20%, for China - 34%; Great Britain - 10%; for Ukraine - 10%. Key partners such as India have a 26% added rate, South Korea - 25%, and Japan - 24%.