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Trump recommends 50% tariff on European Union starting June 1

  • President Donald Trump recommended a 50% tariff on European Union imports starting June 1, announced via his Truth Social platform on May 24, 2025.
  • Trump issued the tariff threat after stating trade talks with the EU were ineffective and criticized companies like Apple for not moving production to the U.S.
  • The announcement caused U.S. And European stocks to fall sharply, with the S&P 500 down 0.7%, Apple’s stock dropping over 2.5%, and Europe’s CAC 40 losing around 1.7%.
  • Analysts noted the tariffs could lower U.S. GDP by about 0.6% and raise prices, while market experts described the social media posts as negotiation tactics increasing market uncertainty.
  • The tariff threat revived fears of a trade war escalation impacting global economies and kept investors cautious, with expectations equities remain volatile in coming weeks.
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Trump on Tariffs on EU Goods: Not Looking for a Deal

For weeks, the European Union and the US have been negotiating to avert high US tariffs. Now, the US President is threatening to impose tariffs of 50 percent - and at first, he does not show any distraction.

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  • 51% of the sources are Center
51% Center
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The New Republic broke the news in on Friday, May 23, 2025.
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