Trump about to deal major blow to ‘difficult’ EU as he threatens new trade war | World | News
Donald Trump has lashed out at the European Union, claiming Washington’s attempts to reach a trade deal with the 27-strong bloc are “going nowhere”. As a consequence, the US President is now threatening on social media to slap “a straight 50% Tariff on the European Union“.
He wrote on Truth Social on Friday, May 23: “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!”
This announcement, surely to send shockwaves through the EU, comes just days after Brussels shared a revised trade proposal with the US.
The new paper, as reported on May 21, included international labour rights, environmental standards and gradually reducing tariffs to zero on both sides for non-sensitive agricultural products, among other issues – all interests close to Washington’s heart.
On several occasions, Trump has attacked the EU, calling it “in many ways, nastier than China“.
The 27-nation bloc is America’s second-biggest trading partner behind China. In recent years, the US exported more than £259 billion of goods to the EU and imported £407 billion worth of goods.
Maros Šefčovič, the European Commission’s trade chief, and US Trade Representative, Jamieson Greer, will speak by phone on Friday morning. The EU was seemingly ready for the possibility that trade talks with the US would fail. In early May, Šefčovič said the bloc preferred negotiations, “but not at any cost. We therefore continue to prepare for every scenario”.
The US has already made deals with the UK and China to reduce their peak exposure to Trump’s trade war.
