President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US.
“A couple of countries came [and said], ‘How come the EU is paying less than us?’ And I said well, because they gave me $600 billion,” Trump said during a CNBC interview.
“And that’s a gift, that’s not like, you know, a loan,” he said, claiming that the terms allow the US to direct where the EU invests.