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Trump says EU has until July 4 to approve last year’s trade deal or it will face higher tariffs
Trump says EU goods could face much higher tariffs if lawmakers miss the July 4 deadline to ratify last year’s trade framework.
President Donald Trump announced on Thursday that the European Union has until July 4 to approve last year's trade deal or face higher tariffs, framing the deadline around the Country's 250th Birthday.
The Historic Trade Deal, agreed in Turnberry, Scotland, originally set tariffs on European goods at 15%. Trump claims the European Union failed to cut tariffs to ZERO as promised under the Agreement.
After the Supreme Court ruled the initial tariff declaration lacked legal authority, the administration levied a 10% tariff while investigating trade imbalances. Trump previously threatened to increase tariffs on European automobiles to 25%.
Trump wrote on Truth Social that he had a "great call" with European Commission President Ursula, though the European Parliament has yet to finalize the trade arrangement reached last year.
Until the Country's 250th Birthday, the European Union has until July 4 to fulfill its side of the deal; otherwise, Trump warned that tariffs would immediately jump to much higher levels.