The president has threatened the European Union with a series of new tariffs in scathing statement after claiming discussions have gone 'nowhere.'
Donald Trump has threatened to impose an eye-watering 50 percent tariffs on goods from the European Union as of next month, claiming negotiation with Brussels have ground to a halt.
The move comes as the POTUS has long accused the EU of 'ripping off' the US, and announced on April 2 (so-called 'Liberation Day') that he intended to hit the trading giant with levies of 20 percent.
However, he hit pause on those plans for 90 days to allow each of the countries listed on his 'reciprocal tariffs' board time to negotiate.
Since then, Trump has made progress with deals in the UK and even China amid the escalating trade war, but apparently hasn't managed to come to an agreement with the European Commission.
Taking to his Truth Social platform, Trump wrote: "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with. Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable."
He continued: "Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!"
His move comes as Trump has been in a bitter battle of trade tennis with his European allies, previously calling it one of the 'most hostile and abusive taxing and tariffing authorities in the world' in March when he threatened to increase goods like alcohol coming out of the region to 200 percent.
At the time, European Commission Ursula Von der Leyen said that Europe was 'open to negotiations' to try to find a satisfying middle ground.
"We will approach these negotiations from a position of strength. Europe holds a lot of cards, from trade to technology to the size of our market," she said. “But this strength is also built on our readiness to take firm countermeasures if necessary. All instruments are on the table.”
The European Commission is yet to respond to the latest announcement but officials suggested there would be no comment on the matter until US-EU figures discuss later today (Friday, May 23), reports Sky News.
It also comes as Trump vowed Apple will be forced to cough up 25 percent tariffs on its iPhones unless it relocates its manufacturing into the US.