Trump Proposes 50% Tariff on EU Goods
U.S. President Donald Trump recently reiterated his criticism of the European Union on social media, accusing it of unfair trade practices against the U.S. He suggested imposing a 50% tariff on EU products starting June 1. Trump emphasized that the EU's trade barriers, value-added tax, and unfair lawsuits against American companies have led to an annual trade deficit exceeding $25 billion, a figure he deems unacceptable.
This announcement caused major European stock indices to drop by over 2%. The White House is currently in trade negotiations with several countries, but progress has been unstable. The EU has refrained from commenting on Trump's proposal, stating it will await further communication with the U.S.
