Today, President Trump followed through with his warning of placing a higher tariff on countries and regions who have not yet reached a trade agreement with the U.S.
On Truth Social this morning, Trump declared that a 50% tariff on goods from the EU is on the table if the region does not quickly progress with its trade negotiations.
Trump wrote:
“Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”
He added, “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.”
Trump’s pause on tariffs between the EU and U.S is set to expire on July 9.
Germany’s DAX index, France’s CAC and London’s FTSE index all fell following President Trump’s announcement.
By CEO NA Editorial Staff
