4h ago
12.55 BST
Trump:
I'm recommending a 50% tariff on the EU
Newsflash:
Donald Trump has just announced he is recommending a 50% tariff on goods from
the Europen Union, from the start of next month.
Ratcheting
up the trade war, Trump has claimed in a Truth Social post that the EU has been
‘very difficult’ to deal with, and that the current US trade in goods deficit
is “totally unacceptable”.
Trump
also claims that the EU was set up to take advantage of the US on trade.
He says:
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!
UPDATE:
Donald Trump’s claim that the US has a trade deficit with the EU of “more than
$250,000,000 a year” actually understates the situation. The president may have
his millions and billions mixed up.
According
to the Office of the United States Trade Representative, the U.S. goods trade
deficit with the European Union was $235.6bn in 2024, not over $250m as Trump
suggests….
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