US president Donald Trump has decided to expand his tariff war against Europe. On Friday, Trump announced that he is recommending a 50% Tariff on the European Union, starting on June 1, 2025. He added that there will be no tariff if the product is built or manufactured in the United States.
President Trump said that the European Union was formed for the primary purpose of taking advantage of the United States on trade. He added that the EU has been very difficult to deal with, citing various trade barriers.
In a post on his Truth Social, Trump said, “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.”
The president added, “Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!”
As per reports, major European stock market indexes fell sharply after Trump’s post.
Earlier, Trump had imposed 25 per cent tariffs on EU cars, steel and aluminium in March and 20 per cent tariffs on other EU goods in April. However, the 20% tariff was halved until July 8, setting a 90-day window for talks to reach a more comprehensive tariff deal.
This was the second tariff announcement by Trump today, after threatening to impose 50% tariff on iPhones sold in the USA if they are made in India or other countries outside the USA.
