Trump's bold tariff move escalates EU trade tensions
"I'm not looking for a deal. I mean, we've set the deal. It's 50%. Again, when they build their plant here, there's no tariffs," said U.S. President Donald Trump.
U.S. President Donald Trump announced on Friday via social media that he supports imposing a 50 percent tariff on imports from the European Union, starting June 1, 2025. He stated that trade negotiations with Brussels were at a standstill.
Trump on tariffs on the EU
"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," Trump wrote on his Truth Social platform. "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," he added.
Some negotiate behind closed doors, while others prefer to do so in the public eye. This is how U.S. President Donald Trump's announcement of a 50 percent tariff on the EU was commented on by Deputy Minister of Development Michał Baranowski. "We have time until early July to conduct negotiations and according to my best knowledge these negotiations are moving forward," said a representative of the Polish presidency.
When asked about this matter late Friday night, Trump reiterated that he is not seeking an agreement.
"I'm not looking for a deal. I mean, we've set the deal. It's 50%. Again, when they build their plant here, there's no tariffs," said U.S. President Donald Trump.
Is a new trade war coming?
In March, the USA imposed a 25 percent tariff on cars, steel, and aluminum imported from the EU, and in April, it applied a 20 percent tariff on the remaining imports from the community. Later, Trump announced the suspension of increased tariffs for 90 days, until July 8. During this time, negotiations on tariffs are expected to take place, with tariffs set at a 10 percent level.
In response to the USA's decision, the European Union halted plans to impose retaliatory tariffs on some American imports and proposed bilateral zero tariffs on all industrial goods, the Reuters agency reminded.
