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Trump demands 50% tariffs on European Union starting June 1

2025-05-23 18:10:00, Kosova & Bota CNA

Trump demands 50% tariffs on European Union starting June 1

US President Donald Trump said on Friday he is recommending a direct 50% tariff on the European Union, after saying trade negotiations have stalled.

"New high import tariffs will begin June 1st," Trump wrote on 'Social Truth'.

Trump's announcement came less than 30 minutes after he said he would impose a tariff of at least 25% on Apple's iPhones if the company does not start manufacturing them in the United States.

US stock futures contracts fell immediately after the posts made this Friday.

US Treasury Secretary Scott Bessent, in an interview with Fox News on Friday morning, said Trump believes the EU's proposals have not been of the same quality that has been seen from other major trading partners.

Asked whether the EU would be able to negotiate within nine days before the 50% tariffs come into effect, Bessent said he thinks this will spark a discussion in the EU.

Meanwhile, the White House's view on Friday morning was that the stock market was overreacting to Trump's comments on tariffs, as reported by US media outlet CNBC.

The White House did not interpret the president's post as a formal statement of policy. /CNA





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