Trump warns EU and Japan on trade as pharma tariffs loom

Reuters

U.S. President Donald Trump said on Tuesday that Treasury Secretary Scott Bessent had remained at the G7 summit in Canada to continue discussions, while he returned to Washington to address Middle East developments.

Speaking to reporters aboard Air Force One, Trump criticized the European Union’s trade stance, saying the 27-nation bloc had been "tough" with the United States for years and had not yet offered what he considers a fair deal.

“We're talking, but I don't feel that they're offering a fair deal yet,” Trump said. “They're either going to make a good deal or they'll just pay whatever we say they have to pay.”

The President also commented on the ongoing trade talks with Japan, describing Japanese negotiators as “tough,” but indicated there was still potential for a deal.

“They're tough, the Japanese are tough, but ultimately you have to understand we're just going to send a letter saying 'this is what you're going to pay, otherwise you don't have to do business with us.' But there's a chance,” Trump said.

Donald Trump further announced that new tariffs on pharmaceuticals would be coming soon, aimed at encouraging pharmaceutical companies to bring manufacturing back to the United States.

“We're going to be doing pharmaceuticals very soon. That's going to bring all the companies back into America,” he said. “It's going to bring most of them back into, at least partially back in.”

Additionally, Trump stated that Canada would pay to participate in the U.S.-led “Golden Dome” missile shield project.

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