President Trump has announced plans to impose a 50 percent import tariff on products from the European Union, effective June 1, 2025. The announcement was made via his social media platform, Truth Social. Trump cited stalled negotiations with the EU as the reason for the proposed tariff.
Trade talks between the US and EU have been tense, with Trump accusing the EU of unfair trade practices. The proposed tariff follows previous measures, including a 30 percent tariff that was later reduced to 10 percent. The announcement caused immediate declines in stock prices on the Amsterdam exchange.