Donald Trump, president of the United States, announced he would recommend 50 % taxes on the European Union starting next month after claiming trade talks “are going nothing.”
As part of his comprehensive price strategy, which was unveiled at the beginning of April, Trump imposed a higher “reciprocal” tax rate of 20 % on the EU. He continued to use the blanket 10 % tax charge, which was applicable to the EU, and paused the higher prices for 90 days. Trump appeared unhappy with the way things have been with the EU in a Friday post on Truth Social despite having reached a business deal with the UK and a momentary agreement with China.
The European Union, which was established with the intention of primarily attempting to take advantage of the US through deal, has been very challenging to deal with. Trump claimed that the country’s trade deficit of more than$ 250, 000, 000 annually is caused by their strong trade barriers, vat taxes, outrageous corporate penalties, non-profits, unfair and unjustified lawsuits, and other factors.
” Our conversations with them are having no fruit!” I therefore advise a straight-female tax on the European Union starting on June 1, 2025. If the product is created or produced in the United States, there is no tax. I appreciate you paying attention to this issue. he continued.
SENATE Claims TO UPEND TRUMP’S” BIG, BEAUTIFUL” HOUSE COMPROMISE
Trump has raised tariffs in retaliation against nations, including China, that are unwilling to engage in negotiations with him. He cautioned nations against imposing their own taxes, and all nations, excluding China, followed the purchase.
Trump initially increased tariffs on China to 145 %, but he later reduced them once a momentary trade agreement between the two nations was reached.
