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Trump Threatens 50% Tariff on EU From June 1
Business Standard
|May 24, 2025
US President Donald Trump threatened a 50 percent tariff on goods from the European Union starting on June 1, saying "our discussions with them are going nowhere."
"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 said in a Truth Social post on Friday, criticizing what he said were the trade bloc's "powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against American companies."
Treasury Secretary Scott Bessent said that Trump does not believe that the European Union's trade offers to the US are of sufficient quality and that he hopes that the tariff threat will "light a fire under the EU" in negotiations with Washington.
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