President Donald Trump said Wednesday during his first Cabinet meeting that the European Union was formed to take advantage of the United States and that his administration soon will be announcing tariffs of 25% on the 27-nation bloc.

Trump was speaking to reporters in a meeting aired live on Newsmax and the Newsmax2 online streaming platform about a further delay in implementing 25% tariffs on Canada and Mexico from March 4 to April 2 as his administration reviews the border nations’ efforts to stem the flow of migrants and fentanyl into the U.S.

He was then asked about whether a decision has been made about what level of tariffs the U.S. will enforce on EU goods to balance a $235.6 billion trade deficit with the economic and political bloc.

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