Donald Trump Issues Ultimatum To Canada And EU [Video]

President Donald Trump has issued an ultimatum to Canada and the European Union, warning that they will face “large scale tariffs” if they do economic harm to the United States.

Writing on Truth Social at 1.50 a.m. ET on Thursday morning, Trump said he will hit the E.U. and Canada with tariffs “far larger than currently planned” if they work together to “do economic harm to the USA.”

The threat came hours after Trump announced plans to place 25 percent tariffs on all auto imports from April 3. “This will continue to spur growth,” Trump said on Wednesday. “We’ll effectively be charging a 25 percent tariff.”

Why It Matters

Concerns about a trade war are unsettling markets and creating fears of a recession in …