Amid US President Donald Trump’s fresh tariff warnings recommending a “straight 50 per cent tariff on the European Union from June 1, the EU trade chief Maros Sefcovic said that trade must be guided by mutual respect and not threats. The European Trade Commissioner stated in a post on X that the EU remained fully engaged and dedicated to reaching a deal that would be mutually beneficial.
"The EU Commission remains ready to work in good faith. EU-US trade is unmatched & must be guided by mutual respect, not threats. We stand ready to defend our interests," his post read.
Earlier in a post on Truth Social, Trump had said, “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.”
The US President was seemingly frustrated by the stalled trade negotiations with the EU, which had suggested eliminating tariffs on both sides, while the president continued to insist on maintaining a standard 10 percent tariff on most imports.
Might delay tariffs if more firms invest in the US: Trump
Speaking from the Oval Office on Friday, Trump emphasised that he wasn't pursuing a deal with the EU and suggested he might postpone the tariffs if more companies chose to invest in the United States.
"I'm not looking for a deal," Trump told reporters. "We've already set the deal. It's at 50 percent." At the heart of Trump's criticism of the EU is his claim that the US has a "totally unacceptable" trade deficit with the bloc's 27 member states. A trade deficit occurs when a country imports more than it exports.
However, from the perspective of the EU's executive commission, trade between the US and the EU is largely balanced when both goods and services are considered. As a global hub for finance and technology, the US maintains a trade surplus in services with Europe, which helps offset its goods deficit.
(With agency inputs)