American President Donald Trump has once again threatened to impose 50 per cent tariffs on the European Union starting 1st June, citing stalled trade negotiations.
In a statement posted on his Truth Social platform, Trump criticized the EU, claiming it was “formed primarily to take advantage of the United States” in trade matters.
“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,” he wrote.
Describing the EU as difficult to deal with, President Trump said that discussions “are going nowhere” and therefore recommended a 50 per cent tariff, unless the product is “built or manufactured in the United States.”
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