U.S. President Donald Trump threatened the European Union (EU) it would face an additional 50% tariffs, starting June 1, in a social media post on Friday.
Posting on his social platform, Truth Social, Donald Trump criticized the EU leadership as counterproductive, calling the current trade relations between the two “totally unacceptable.”
The post reads, “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. 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 a separate post earlier on Truth Social, Trump also targeted Apple, threatening a 25% tariff on iPhones that are not manufactured in the United States. The statement had an immediate market impact, sending Apple’s stock down 2.5% in pre-market trading and dragging U.S. stock index futures lower as well. The move signals the former president’s renewed focus on reshoring American manufacturing as a cornerstone of his economic platform.
