Trump proposes 50% tariff on EU from June 1, accuses bloc of 'taking advantage' of US
The US president has stated the EU will face tariffs upto 50 percent from June 1, 2025 onwards.
US President Donald Trump has announced new tariffs for the European Union. In his latest announcement on Truth Social, the US president has stated the EU will face tariffs upto 50 percent from June 1, 2025 onwards.
"The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with. Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere!" said Trump.
Trump further added that “there is no tariff if the product is built or manufactured in the United States.”
Trump's decision on new tariffs against the EU comes after the Trump administration increased pressure on the regional bloc to reduce its tariffs on American goods.
As per a report by the Financial Times, the US warned the European Union that if it did not remove its "unilateral" tariffs on American goods, Washington would be forced to impose reciprocal tariffs.
Tensions between the US and EU mounted after the Trump administration announced 25 percent tariffs on European cars, aluminum, and steel in March, followed by 20% tariffs on additional EU goods in April. This rate was later slashed to 20 percent and a deadline for July 8 was set by the US to make a tariff deal.
In order to de-escalate the tensions, the EU halted its plans for tit-for-tat tariffs and suggested removing industrial tariffs on both sides.
