Europe ahead of economic war as Trump targets tariffs and taxes

Commenting on Donald Trump’s inauguration, Al Mayadeen's bureau chief in Geneva Moussa Assi stated that Trump's economic policies signal a dark day for Europe. Assi explained that Trump is gearing up to launch an economic offensive targeting European trade and industry, such as proposed tariff hikes, ranging from 10% to 20% on European goods and up to 60% on Chinese imports, which will hit hard. Meanwhile, his plan to slash corporate taxes from 21% to 15% will make the US a tax haven for multinational corporations, drawing investments away from Europe. With promises to halve fuel and electricity costs through expanded oil exploration, including in Alaska, Trump is creating a competitive edge that could lure European companies to relocate their operations to the US.