Trump suggests 50% tariff on EU goods starting in June

US President Donald Trump has recommended Friday a 50% tariff connected nan European Union aft complaining that negotiations were not going good and Brussels was “difficult to woody with”. 

Trump took to societal media to stock his thoughts, suggesting that nan elevated duties should commencement connected 1 June, successful little than a month. 

The US president said he wants to complaint higher import taxes connected equipment from nan EU, a long-standing US ally, than from China, a geopolitical rival that had its tariffs trim to 30% this period truthful Washington and Beijing could clasp negotiations.

Trump was upset by nan deficiency of advancement successful waste and acquisition talks pinch nan EU, which has insisted connected cutting tariffs to zero moreover arsenic nan president has publically insisted connected preserving a baseline 10% taxation connected astir imports.

“Our discussions pinch them are going nowhere,” Trump posted connected Truth Social. “Therefore, I americium recommending a consecutive 50% tariff connected nan European Union, starting connected 1 June 2025. There is nary tariff if nan merchandise is built aliases manufactured successful nan United States.”

Since mid-March, nan Trump management has imposed 25% tariffs connected EU alloy and aluminium, 25% connected EU-made cars and 10% connected each EU imports.

The 10% complaint is expected to stay successful spot until 8 July, erstwhile Trump's 90-day speech model expires.

The European Commission, nan EU's executive arm, declined to remark connected nan US president’s words. 

Previously, nan EU had offered a zero-tariff waste and acquisition woody pinch nan US, but Washington didn't judge that.

As portion of nan existent waste and acquisition negotiations, nan European Union and nan United States person precocious shared position papers that were radically apart, Euronews learnt.

'Deep US vexation pinch nan EU's approach'

The US has precocious agreed connected a waste and acquisition truce pinch China, leaving room to attraction connected nan EU a spot more.

“Trump's demands look to bespeak heavy US vexation pinch nan EU's professional, calm and bureaucratic attack to waste and acquisition negotiations — clashing pinch Trump's willingness to quickly ink sexy-looking deals moreover if they mean very small successful practice," Agathe Demarais from nan European Council connected Foreign Relations (ECFR) said.

According to Demarais, clarity is lacking astir US waste and acquisition goals. These could see a wide scope of demands from nan EU, from curbing its economical ties pinch China to pledges to bargain much US LNG aliases weapons.

“The EU does not do waste and acquisition deals successful a fewer hours: this is simply not nan measurement nan bloc works,” Demarais explained, adding that a 50%-tariff connected nan EU would beryllium highly damaging for nan US economy.

In a caller interview pinch Euronews, EU Trade Commissioner Maroš Šefčovič said EU standards connected agriculture and nutrient are "not up for negotiation" aft US Commerce Secretary Howard Lutnick past period criticised EU regulations preventing immoderate US-made nutrient and chickenhearted from entering nan European marketplace owed to nan usage of hormones deemed unsafe by Brussels.

The European Commission said that it stands fresh to instrumentality up to €95 cardinal successful countermeasures if waste and acquisition negotiations pinch nan US neglect to reside nan waste and acquisition deficit.

Meanwhile, nan European Commission has precocious lowered its economical forecast, assuming that nan waste and acquisition tariff connected European equipment imported by nan US would beryllium group astatine 10% for nan agelong term. The latest forecast said that nan GDP successful nan eurozone is expected to turn by 0.9% and nan EU system to grow by 1.1% this year.

Apple besides threatened

That station had been preceded by a threat of import taxes against nan US tech elephantine Apple.

Apple now joins Amazon, Walmart and different awesome US companies successful nan White House's crosshairs arsenic they effort to respond to nan uncertainty and inflationary pressures unleashed by his tariffs.

“I person agelong agone informed Tim Cook of Apple that I expect their iPhones that will beryllium sold successful nan United States of America will beryllium manufactured and built successful nan United States, not India, aliases anyplace else,” Trump wrote. “If that is not nan case, a tariff of astatine slightest 25% must beryllium paid by Apple to nan US.”

In consequence to Trump’s tariffs connected Beijing, Apple and CEO Tim Cook were looking to displacement iPhone manufacturing to India arsenic nan institution adjusts its proviso chains. That scheme has go a root of vexation for Trump, who besides brought it up past week during his Middle East trip.

US banal futures sold disconnected aft Trump's words connected Friday, and nan main European banal indexes besides turned negative, losing betwixt 1%-2.5% by 3 p.m. CET.