FAST FIVE: Trump Again Threatens Europe With Tariffs: Expect Instant Global Recession
We're going to tariff a lot of their products.” The president was almost certainly referring to imports of cars from the EU, a threat he has made in the past.
Trump wants Germany to scrap Nord Stream 2, a gas pipeline between Russia and the EU underneath the Baltic Sea.
EU tariffs on US cars are higher than US tariffs on EU cars.
Ursula von der Leyen, defence minister, recently proposed an increase in the defence budget to 1.5% by 2023, which would at least show minimal convergence towards the Nato spending target of 2%.
This would leave the defence spending quota effectively unchanged.