50% of their president, in his post on the Truth Social platform, propose.
Specifically, the US president reiterates his notice that “the European Union (…) has formed primarily to exploit the United States in the commercial plan” and states that “our discussions with them are nowhere to be found” to announce that it imposes 50% of European products.
The new, high import duties will start on June 1st, Trump wrote on Truth Social.
His post is as follows:
“The European Union, which was primarily formed to exploit the United States in the commercial plan, was very difficult to deal with. Strong commercial barriers, VAT taxes, ridiculous corporate sanctions, non -monetary commercial barriers, monetary manipulations, unjust and unjustified lawsuits against US companies and others have led to a trade deficit with the US over $ 250,000,000 per year. Our discussions with them do not lead anywhere! As a result, I propose a 50% immediate duty to the European Union from June 1, 2025. There is no duty if the product is manufactured in the United States. Thank you for your attention on this subject! “
Trump’s suspension came less than 30 minutes if the company does not start construction in the United States.
It should be noted that the EU has been trying to put pressure on talks with the US all this time, without it seems to be a result.
It is recalled that the US has imposed 25% duties on cars, steel and aluminum from the EU and 20% on April 20% on other EU products in March. They then reduced the rate of 20% by July 8, setting a 90 -day period of time.
In response, the EU of the 27 states suspended its own plans to impose retaliation on some US products and proposed zero duties for all industrial products on both sides.
The first reactions of markets
Futures of the shares declined early Friday, shortly after the US president’s posting rekindled the duty war, proposing new stricter tariffs in the European Union.
Future fulfillment contracts, linked to the industrial index of Dow Jones, decreased by 503 points or 1.2%, of Nasdaq 100, lost 1.4%and the S&P 500 decreased 1.2%.
Apple’s shares fell 3% to pre -conference transactions, after Trump posted on Truth Social that US iPhones should be manufactured in the US and, if not manufactured, Trump’s against Apple is the first against a particular company in the context of this year’s tariff implementation.
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