China is pressuring the European Union into an anti-US trade alliance

Trump's'America First administration is going to trade war with ChinaMore

The European Union is slamming the Trump administration for considering tariffs on auto imports, saying they could lead to global retaliation against some $300 billion in us goods.

The campaign will use "state-by-state analysis" to "argue that Trump is risking a global trade war that will hit the wallets of USA consumers", Reuters reports.

Mr Trump has implemented billions of dollars in tariffs targeted at China, Canada, Mexico and the European Union, saying such moves are needed to offset trade imbalances.

That comment seemed to refer less to the USA mid-term elections and more to Mexico's vote on Sunday that elected Andres Manuel Lopez Obrador as the country's first leftist leader in decades. Traders are reacting to retaliatory events and the imposition of fresh tariffs at the end of the week.

The EU delivered its warning as it emerged that the largest business lobby group in the United States had written to the president to say a global trade war risked damaging his tax cut-led efforts to kickstart the economy.

In the meantime, China has promised that the second wave of tariffs are on the way while Donald Trump has promised to increase his efforts against automobile manufacturers who he believes are taking advantage of the North American Free Trade Agreement.

On Wall Street, shares turned positive in late afternoon trading as investors weighed trade concerns against Commerce Department data that showed US construction spending increased more than expected in May. "They treat us very unfairly", Trump said qualifying his remarks.

The EU sent comments to the US for consideration in the Department of Commerce investigation into whether auto imports pose enough of a threat to USA national security to justify tariffs and estimating the economic impact. The EU has imposed retaliatory tariffs on goods worth €2.8 billion ($3.27 billion), primarily on US-built motorcycles.

The commission also underlined that European vehicle companies were important contributors to the United States economy and "well established" there. The idea was that China's additional purchases would shrink its trade surplus with the United States.

"We did retaliate against the American steel and aluminum tariffs - and we did so outside the framework of the [World Trade Organization], at least initially".

Steep US tariffs on more than $30 billion in Chinese imports are due to take effect Friday as retribution for Beijing's alleged theft of US intellectual property.

Looking at World Trade Organization data, however, Canada and many of Trump's other targets are near the bottom of the world in terms of average tariff levels.

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