Updated 23 May 2025 at 18:57 IST
Washington: Donald Trump has threatened to levy a 50 percent tariff on the European Union starting June 1, 2025, stating that it has become very difficult to negotiate with them over various trade-related issues, including powerful barriers, VAT taxes, unjustified lawsuits against American companies, among others.
The US President took to his social media platform Truth Social and wrote, “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.”
Continuing further, Trump said, “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!”
In another move, the US President has also threatened to impose 25 per cent tariffs on Apple products if they don't shift manufacturing in United States to sell its products in United States.
“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter,” Trump said in another post on Truth Social.
Published 23 May 2025 at 18:57 IST