President Trump slaps 50% tariff on EU goods starting June 1st, exempts American-made products
President Trump has announced a 50% tariff on European Union goods starting June 1, 2025, with exemptions for products built or manufactured in the United States of America.
President Donald Trump via Truth Social:
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!
MacDailyNews Take: Again, this is a negotiation parry. Clearly, with discussions “going nowhere” currently, Trump wants more from the EU than they are giving today.
The U.S. has leverage and recourse. We expect both to be used. – MacDailyNews, March 19, 2025
This EU tariff announcement is likely stated today so that the markets can have the three-day U.S. trading break to digest.
Expect turbulence in the markets until deals are reached and uncertainty is lessened. No pain, no gain.
Trump administration has been warning the EU against excessive regulation of American technology firms. On February 21st, President Trump issued a directive, “Defending American Companies and Innovators From Overseas Extortion and Unfair Fines and Penalties,” threatening to impose tariffs on Europe to combat what he called “overseas extortion” of American tech companies through digital services taxes, fines, practices, and policies.
See also: President Trump says Apple CEO Tim Cook called to complain about EU’s $17 billion in fines – October 17, 2024
The European Union arose because the Europeans couldn’t compete on their own with the rest of the world, so they each lined up to surrender their national sovereignty, unique cultures, and dignity for an undemocratic, opaque, wasteful, bloated, bureaucratic quasi-governmental blob – and, even with the EU’s thumbs all over the scale, they still can’t compete. — MacDailyNews, March 4, 2024
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