Trump vs. EU's tariff negotiations are not progressing well, with both sides holding firm. Reports have emerged that Trump urged the EU to make unilateral concessions today at noon, but the EU insists on the 'principle of reciprocity':
Sources say that Trump's trade negotiation representatives are pressuring the EU to unilaterally reduce tariffs on American goods, stating that without concessions, the EU will not be able to make progress in negotiations, which means the EU will face more tariffs.
As the evening escalated:
Trump proposed to impose a direct 50% tariff on the EU starting June 1.
Trump stated: "The main purpose of the EU's establishment is to take advantage of the United States in trade, but the EU is hard to deal with. Their strong trade barriers, value-added tax, ridiculous corporate penalties, non-monetary trade barriers, currency manipulation, unfair and unreasonable lawsuits against American companies, etc., have resulted in the U.S. trade deficit exceeding $25 billion annually, a figure that is completely unacceptable. Moreover, there has been no progress in tariff negotiations. Therefore, I suggest imposing a direct 50% tariff on the EU starting June 1, 2025. No tariffs will be imposed if the products are made or produced in the U.S."
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