Trump calls for 50% tariff on EU, says he's 'not looking for a deal' with bloc
www.cnbc.com
President Donald Trump believes European Union proposals have not matched those from other trading partners, U.S. Treasury Secretary Scott Bessent said.

  • President Donald Trump on Friday said he is “recommending a straight 50% Tariff on the European Union” after complaining that trade negotiations have stalled.

  • The EU “has been very difficult to deal with,” Trump wrote. “Our discussions with them are going nowhere!”

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!

  • Bustedknuckles@lemmy.worldEnglish
    191·
    2 days ago

    I do? I’m saying that there’s no reason for the world to band together and implement tariffs on us. Low volume would be another reason not to, but we do export a non-negligible amount worldwide. Most to NA, but over 300B to EU last year

    • wewbull@feddit.ukEnglish
      1·
      1 day ago

      There’s no reason for the world to put reciprocal tariffs in place that are actually reciprocal? The US President started this.

      To get a sense of scale on how important US imports are to the EU. Total imports to the EU were $6.5T in 2024. The US was (as you said) about $300B. It’s 18% of US Exports. It’s 4.5% of EU imports. Significant, but trimming it down is probably fine.

      What we do import from the US is fossil fuels. Oil & gas, and processed variants of that make up around ⅓ of all US exports to the EU. The short term need for US O&G went up with Russia invading Ukraine, and the has made the US supply more important. Thing is, that’s looking temporary. We’re also regearing to need far less of it. EV sales continue to rise (except Tesla’s). Renewable electricity generation gets bigger every year. In 2024 the EU spent 16% less on energy imports than 2023.

      The US’s leverage over the EU is not economic. Sadly, right now it’s military. The EU doesn’t want to piss Trump off because of Russia’s invasion of Ukraine. We’d like the US to stand resolutely beside us in the defence against Russian aggression. Unfortunately Trump sees Putin as a role model, not an enemy and can’t bring himself to act against him.

    • givesomefucks@lemmy.worldEnglish
      57·
      2 days ago

      Of goods made in other countries that go thru American corporations only as a middle man…

      Tarrif America, companies from those other countries take over being the middle man.

      The middle man can be replaced at a moments notice. It wouldn’t be damaging to any country’s economy, it would be a huge economic boost for them.

      That’s what trump, and you, do t understand.

      America needs the 3rd world to make stuff that we sell to other first world countries.

      But no other economy on the planet needs America.