President Donald Trump announced Friday morning that he is considering imposing a hefty tariff against the European Union in an effort to end trade tyranny.
In a post on Truth Social, he declared that he is weighing a 50% tariff against the EU to fix America’s trade deficit.
‘There is no Tariff if the product is built or manufactured in the United States.’
“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,” he wrote. “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.”
Photo by JONATHAN ERNST/POOL/AFP via Getty Images
According to Trump, the trade negotiations with the EU “are going nowhere.”
“Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025,” he declared. “There is no Tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!”
This is a developing story and will be updated with additional information.
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