US Tariff
Trump recommends 50% tariff on EU from Jun 1 as trade talks stall
This story was originally published at 20:38 IST on 23 May 2025
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NEW DELHI – US President Donald Trump Friday recommended a "straight 50%" tariff on imports from the European Union effective Jun. 1. Discussions to secure a trade deal between the two sides are "going nowhere", he said, adding that it has been "very difficult (to deal) with the European Union", he said.
"I am recommending a straight 50% tariff on the European Union, starting on Jun. 1. There is no tariff if the product is built or manufactured in the United States," Trump said on his social media platform Truth Social. Lashing out at the EU, the US president alleged that the 27-nation bloc was formed for the primary purpose of taking advantage of the US when it came to trade.
The Trump administration had already imposed a 25% tariff on imports of steel, aluminium, and cars from the EU in March. It also imposed a baseline tariff of 10% on almost all of its other trading partners in the world. Later, on Apr. 2, the US president also announced a blanket 20% tariff on imports from the EU as part of his reciprocal tariff plan. The reciprocal tariffs are on pause till Jul. 9. European indices slipped 2% Friday after Trump's fresh tariff call.
"Their (EU's) powerful trade barriers, vat taxes, ridiculous corporate penalties, non-monetary trade barriers, monetary manipulations, unfair and unjustified lawsuits against American companies, and more, have led to a trade deficit with the US which is totally unacceptable," the US president said. According to the US Trade Representative, the country's goods trade deficit with the EU was $235.6 billion in 2024.
The EU presented a revised trade proposal to the US Thursday. The offer included phased tariff cuts on non-sensitive goods and cooperation in energy, artificial intelligence, and digital infrastructure, as per media reports. End
US$1 = INR 85.21
Reported by Kuldeep Singh
Edited by Nishant Maher
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