Trump threatens 50 percent tariffs on Europe starting June
According to webangah News Agency, U.S. President Donald Trump announced via his Truth Social platform that these heavy import tariffs woudl take effect starting June 1.
Trump wrote about the 27-member bloc: “Dealing with the European Union has been extremely difficult… Our negotiations with them are going nowhere!”
The declaration came less than thirty minutes after Trump threatened to impose at least a 25% tariff on iPhone imports if Apple didn’t begin manufacturing the devices in the United States.
U.S. stock index futures promptly plummeted following these messages,which signaled that the Republican president was once again threatening heavy customs duties against what he called unfair economic practices.
European stock markets also dropped 2% in Friday’s trading session, according to reports.
trump stated: “The EU - originally formed to exploit America in trade – remains very difficult. Their powerful trade barriers, VAT taxes, ridiculous fines for major companies, non-monetary trade obstacles, currency manipulation, baseless lawsuits against U.S. firms and more have resulted in an annual $250+ billion trade deficit with America – fully unacceptable.”
He added: “Our negotiations aren’t progressing! Thus, I recommend implementing a direct 50% tariff on EU goods effective June 1st, 2025.Products made or manufactured within America won’t face this tariff.”
The move represents a complete reversal from Trump’s recent stance; he had recently praised preliminary trade “agreements” with China and Britain while rolling back some tariff proposals.
Markets had welcomed these developments as they eased concerns about economic instability stemming from Trump’s proposed tariffs.
Treasury Secretary Scott Besant told Fox News Friday morning: “The President believes EU proposals lack comparable quality to those from other major trading partners.” When asked whether Brussels might negotiate before June tariffs take effect nine days later responded simply: “I hope this motivates them.”</P
A tense exchange is expected later today between USTR Jimmy Greer and his European counterpart following Trump’s statements Financial Times reported Greer will tell Maroš Šefčovič Europe’s Trade Commissioner Brussels’ recent negotiating position fails meet American expectations </P
The EU was second largest importer US goods during fiscal year ending September according Office Representative Trade data purchasing nearly $351 billion worth products </P
The European Commission declined comment CNBC regarding new threats continuing longstanding pattern accusations unfair treatment by president who April imposed then temporarily reduced retaliatory duties against bloc under reciprocal tariff program
