Created
: 2025.02.14
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
European Commission: US President Trump's reciprocal tariffs are a step in the wrong direction
World FX news
Breaking news
European Commission: US President Trump's reciprocal tariffs are a step in the wrong direction
New
2025.02.14 18:48
2025.02.14 18:48
2025.02.14 18:48
Responding to US President Donald Trump's reciprocal tariffs plan on Friday, the European Commission noted that "Trump's reciprocal tariffs are a step in the wrong direction."
Additional takeaways
The European Union (EU) remains committed to an open and predictable global trading system that benefits everyone.
EU will react firmly and immediately against unjustified barriers to free and fair trade.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.02.14
Related articles
Japan's National CPI climbs 4.0% YoY in January, Core CPI rises more than expected
5 minutes agoEUR/USD holds steady near 1.0500 ahead of Eurozone PMI release
20 minutes agoFed's Kugler: Central bank should hold policy rate in place for some time
43 minutes agoRBA's Bullock: Board remains cautious about prospects for further policy easing
56 minutes agoAustralia's Judo Bank Manufacturing PMI rises to 50.6 in February, Services PMI improves to 51.4
2025.02.21 07:40NZD/USD Price Analysis: Bulls surge to back to highs since January, eyeing 100-day SMA retest
2025.02.21 06:42
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Japan's National CPI climbs 4.0% YoY in January, Core CPI rises more than expected
Japan's National Consumer Price Index (CPI) climbed 4.0% YoY in January, compared to the previous reading of 3.6%, according to the latest data released by the Japan Statistics Bureau on Friday.
New
2025.02.21 08:50EUR/USD holds steady near 1.0500 ahead of Eurozone PMI release
The EUR/USD pair trades flat near 1.0500 during the late American session on Thursday.
New
2025.02.21 08:35Fed's Kugler: Central bank should hold policy rate in place for some time
Federal Reserve Board Governor Adriana Kugler said late Thursday that US inflation still has "some way to go" to reach the central bank's 2% target and that its path toward that goal continues to be bumpy, per Reuters.
New
2025.02.21 08:12RBA's Bullock: Board remains cautious about prospects for further policy easing
Reserve Bank of Australia Governor Michele Bullock said late Thursday that the central projection suggests that if monetary policy is eased too quickly or by too much, disinflation could stall and inflation would settle above the midpoint.
New
2025.02.21 07:59Australia's Judo Bank Manufacturing PMI rises to 50.6 in February, Services PMI improves to 51.4
The preliminary reading of Australia's Judo Bank Manufacturing Purchasing Managers Index (PMI) rose to 50.6 in February from 50.2 in January, the latest data published by Judo Bank and S&P Global showed on Friday.
New
2025.02.21 07:40Gold price extended gains on trade war fears, soft US Dollar
Gold's price advanced late in the North American session yet traded off record highs of $2,954 as traders took profits.
New
2025.02.21 06:57NZD/USD Price Analysis: Bulls surge to back to highs since January, eyeing 100-day SMA retest
The NZD/USD pair staged an impressive rally on Thursday, climbing 1.03% to close at 0.5765, marking its highest point since January.
New
2025.02.21 06:42US Dollar weakens asTrump hints at possible China trade deal, weak labor data
The US Dollar Index (DXY), which tracks the US Dollar's (USD) performance against six major currencies, extends its decline on Thursday, slipping near 106.30.
New
2025.02.21 05:47Canadian Dollar strengthens after hot PPI figures
The Canadian Dollar appreciated against the Greenback on Thursday.
New
2025.02.21 04:32Forex Today: It's PMIs day!
The US Dollar came under renewed and significant selling pressure, retreating to two-month lows even though the US tariff narrative remained unchanged and the Russia-Ukraine peace talks showed no signs of improvement.
New
2025.02.21 04:06Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
