Trump threatens European Union with 50% tariffs as of June 1
The measure would be taken due to difficulties in reaching a tariff agreement with the E.U. No tariffs will be applied if the product is manufactured in the United States.
President Donald Trump on Friday threatened the European Union with 50% tariffs because of the difficulties the Republican administration has had with countries in the union in reaching a tariff deal.
"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," Trump said in a message posted on Truth Social.
"I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025," Trump added.
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