WASHINGTON — President Trump threatened Friday to impose a 50% tariff on all European Union products beginning June 1, saying the block has been “very difficult to deal with.”
“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,” Trump wrote on Truth Social.
Trump imposed a 90-day pause on his Liberation Day tariffs on April 9, leaving the door open for countries to negotiate with the US on a better tariff rate, while still leaving a 10% rate on all countries but China.
The president has only negotiated a deal with the UK and a preliminary deal with China during the 90 days so far, although negotiations are ongoing.
“Our discussions with them are going nowhere!” he said of talks with the EU.
“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.”
Trump indicated last week that time could be running out to strike deals with all countries one-on-one, and his administration could be rolling out package rates soon.
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