U.S. President Donald Trump on Friday threatened to impose a 50% tariff on imports from the European Union, accusing the 27-member trading bloc of stalling trade talks.
Lamenting that negotiations with the EU ¡°are going nowhere,¡± Trump said on Truth Social he is recommending ¡°a straight 50% Tariff on the European Union, starting on June 1, 2025.¡± Stock futures on Wall Street fell on the news.
If the new duties come into effect, they would dramatically hike the current U.S. baseline 10% levy against goods coming from the EU, and ratchet up the economic tensions between the world¡¯s biggest economy and its largest trading bloc.
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