 "Trump says trade talks 'going nowhere', threatens 50% tariff on EU")
President Donald Trump on Friday reignited the US trade war by threatening to slap a 50% tariff on the European Union, prompting sharp reactions from European leaders.
If implemented, the new duties would significantly increase the current 10% baseline tariff, intensifying already strained trade relations between the world’s largest economy and its biggest trading bloc.
Taking to 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. 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!” he added.
European leaders and senior officials responded with dismay to Trump’s announcement, urging a de-escalation of rising trade tensions.
“We are sticking to our position: de-escalation, but ready to respond,” France’s trade minister Laurent Saint-Martin posted on the X social media platform.
Irish Prime Minister Micheal Martin called Trump’s announcement “enormously disappointing,” writing on X that “tariffs are damaging to all sides.”
“We do not need to go down this road,” he said, without spelling out how Europe might respond.
Wall Street stocks fell on the news, before paring some losses.
Last month, Trump imposed a sweeping 10% baseline tariff on most countries and a 20% levy on the EU — measures paused for 90 days to allow trade talks.
He also introduced sector-specific duties on autos, steel, and aluminum not made in the US, which remain active.
While agreements with the UK and China have eased some tariffs and calmed markets, US-EU negotiations have stalled.
Impact Shorts
More ShortsIn response, Brussels has threatened tariffs on $113 billion worth of American goods unless Washington lowers duties on European exports.
Speaking to Bloomberg Television on Friday, US Treasury Secretary Scott Bessent said the lower 10% tariff rate was “contingent on countries or trading blocs coming and negotiating in good faith.”
“And I think the president was getting frustrated with the EU,” he said.
In a separate post Friday, Trump slammed Apple for not relocating iPhone production to the US despite repeated appeals, warning of new tariffs of “at least” 25% if the company fails to comply.
His remarks reignited pressure on Apple CEO Tim Cook to bring manufacturing jobs back from Asia.
While most iPhone assembly still occurs in China, Apple has gradually expanded operations to other countries, including India.
With inputs from agencies
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