RT.com
23 May 2025, 17:45 GMT+10
The US president said the new levy could enter into force due to trade imbalances with the bloc
US President Donald Trump has recommended a "straight 50% tariff" on the entire European Union, citing a $250 billion yearly trade deficit with the bloc. He suggested that the new rate will start being applied on June 1.
Writing on his Truth Social account on Friday, Trump suggested that the EU was initially formed "for the primary purpose of taking advantage of the US on Trade," and stated that the bloc has been "very difficult to deal with."
He further claimed that the EU's economic policies, taxes, regulations and "unfair and unjustified lawsuits against American companies" have led to a trade deficit with the EU of "more than $250,000,000 a year," which he described as "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," Trump announced, adding that there would be no tariff on products "built or manufactured in the United States."
DETAILS TO FOLLOW
(RT.com)
Get a daily dose of Illinois Intelligencer news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Illinois Intelligencer.
More InformationWASHINGTON, D.C.: Parts of the U.S. and Canada may not have enough electricity this summer if hot weather causes more people to use...
Washington DC [US] May 23 (ANI): Chairman John Moolenaar of the House Select Committee on China, along with Senator Marsha Blackburn,...
The US president said the new levy could enter into force due to trade imbalances with the bloc US President Donald Trump has recommended...
Rather than clinging to zero-sum policies, the United States must change course and collaborate with the Global South to build a fairer,...
New Delhi [India], May 23 (ANI): The US dollar has likely to be entered in a long-term downtrend because of several economic and political...
Welcome back to the Farda Briefing, an RFE/RL newsletter that tracks the key issues in Iran and explains why they matter. I'm RFE/RL...
WASHINGTON, D.C.: U.S. senators from both parties introduced a bill this week aimed at countering China and Russia's growing influence...
NEW YORK CITY, New York: Officials are investigating why a Mexican Navy training ship hit the Brooklyn Bridge on May 17, breaking the...
WASHINGTON, D.C.: The U.S. Department of Justice wants to merge two of its agencies — the Drug Enforcement Administration and the Bureau...
MADRID, Spain: Spain has ordered Airbnb to remove more than 65,000 holiday rental listings from its platform, accusing the company...
WASHINGTON, D.C.: Families of some of the 346 people who died in two deadly Boeing 737 MAX crashes plan to oppose a proposed deal between...
ROSEMEAD, California: Southern California Edison (SCE) has outlined a US$6.2 billion wildfire mitigation plan aimed at reducing fire...
