While many other issues are dominating the headlines - the Supreme Court, immigration, and developments in the Russian Federation investigation - the slow burn of the United States' looming trade war may become one of the most significant stories in the months to come.
Schinas said European auto makers create over half a million jobs in the U.S.
But what may temper the blow from punishing tariffs could be a move by the White House to enable Chinese telecom company ZTE Corporation (ZTCOF) to purchase USA tech equipment again as well as Trump's less strict decision when it comes to investments by Chinese companies in US technology companies.
European Commission spokesman Margaritis Schinas said the US investigation into the possibility of auto tariffs "lacks legitimacy, factual basis and violates global trade rules", just like last month's USA tariffs on steel and aluminum imports.
But mounting trade tensions have opened a rift with the president.
Trump's government is threatening to raise tariffs for EU-made cars to 20% to "rebalance" the EU's 10% tariff on cars imported into its region.
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Trump went on to say "we also love the European Union" and point out that his parents were born within the area now encompassed by the European Union, before those countries were a part of the European Union.
The bloc argues that for some goods, such as trucks, U.S. import duties are higher. That same state, which flipped for Trump in 2016, is also expected to lose $624 million in soybean sales after China issued sweeping tariffs in response to Trump.
The most exposed S.C. exports to Mexico are steel and iron products, while China imports billions in motor vehicles from the Palmetto State.
Several targets of Mr. Trump's tariffs on steel and aluminum have already imposed countermeasures, including Canada and the European Union. "And the reason is because if they're not fine, I'm going to tax their cars coming into America, and that's the big one", Trump said.
Trump railed against his trading partners during the meeting, according to sources, and withdrew his support for a joint communique after leaving the summit, angering and bewildering some of Washington's closest allies. "The European Union is possibly as bad as China, just smaller", he told Fox News in an interview, adding that it was "terrible what they do to us" and then mentioning the "car situation". They have asked supporters to petition elected congressional representatives in North Carolina, the state where Moog's operations are located. Their shipments will now be subject to a 25 percent tariff, which will instantly make their crops far costlier in China.