Washington, D.C. – In a surprise move, United States President Donald Trump announced on Friday that he is recommending a 50 percent tariff on products from the European Union, effective June 1. The decision comes after what Trump described as fruitless negotiations with the EU, citing difficulties in dealing with the European side.
Trump emphasized that the proposed tariff would not apply to products manufactured in the United States, stating, “There are no tariffs if the product is made in the United States.” The President’s comments were met with criticism from the EU, with the bloc likely to retaliate against the proposed tariffs.
Trump also criticized the EU’s approach to corporate governance, citing the bloc’s laws allowing for lawsuits against companies and its system of value-added taxes and fines for corporate misbehavior. He claimed that these practices have contributed to the United States’ trade deficit. The President further alleged that the EU was primarily established to exploit the US in trade, a claim that has been disputed by many experts and officials.