U.S. President Donald Trump has announced the imposition of 50% tariffs on the European Union, effective from June 1.
“The European Union, which was primarily established to exploit the United States in trade, is extremely difficult to cooperate with. Its high trade barriers, VAT, absurd corporate fines, non-tariff barriers, currency manipulation, unfair and baseless lawsuits against American companies, and others have resulted in a trade deficit with the United States of more than $250 billion per year — a figure that is completely unacceptable.”
“Our negotiations with them are going nowhere! Therefore, I recommend imposing a flat 50% tariff on the European Union starting June 1, 2025. For products that are produced or assembled in the United States, the tariff will not apply.”
“Thank you for your attention,” Trump wrote.
