U.S. President Donald Trump has reignited threats to tariff the European Union at a higher rate as early as 1 June, which would undo a 90-day pause he announced in early April.
Trump announced on his social media page Truth Social that he is recommending a 50 percent tariff on all goods from the E.U. starting on 1 June, claiming the bloc’s trade practices have been detrimental to the U.S.
“[The E.U.'s] 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 USD 250 million [EUR 220 million] a year, a number which is totally unacceptable,” Trump wrote. “Our discussions with them are going nowhere!”
Trump initially announced a sweeping set of tariffs on 2 April, dubbed “Liberation Day,” that would cover nearly every country in the world – including some uninhabited islands. At the time, the White House’s official fact sheet said the tariffs were intended to “rebuild the economy and restore national and economic security.”
That tariff rate would have hit the E.U. with a 20 percent “reciprocal” tariff, covering all goods, but just days later, Trump announced the 90-day pause on all tariffs except for those targeting China. That pause was set to expire on 9 July.
According to National Marine Fisheries Service import statistics, the U.S. imported USD 3.7 billion (EUR 3.2 billion) worth of seafood from Europe as a whole in 2024. Considering E.U. member countries only, that total runs over USD 1.3 billion (EUR 1.1 billion).
At a 50 percent tariff rate across every country in the E.U., that would result in U.S. importers paying ...
