Live Trump announces 50pc tariffs on EU
US President Donald Trump has said he wants to impose a 50pc tariff on the European Union, starting from June 1.
In a post on his social media platform Truth Social, which has dramatically and immediately escalated a trade war between two of the world's largest economies, he 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!'
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