President Trump responded on Saturday to reports that foreign governments are weighing their options following his declaration of a trade war earlier this week. "The United States has an $800 Billion Dollar Yearly Trade Deficit because of our 'very stupid' trade deals and policies," Trump wrote in an initial tweet, claiming the United States is mocked and impoverished by our trade partners. "If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S.," he continued in a second post. "They make it impossible for our cars (and more) to sell there. Big trade imbalance!"

Scroll for 5 things you

need to know now

↓