Donald Trump says that from 1 June he recommends a rate of 50 percent on goods from the European Union, because trade negotiations with the block “don’t go anywhere”.
In a position on his social social platform, the US President claimed that the EU was “formed for the primary goal to take advantage of the United Sates” and was “very difficult to deal with”.
Since January in January, Mr. Trump has announced a multitude of rates that are often fallen before they come into effect.
Although countries have a trade deficit, the victims of its wrath have worn, even close allies and trading partners – including Australia – have not been spared.
In the position, Mr Trump mentioned the “powerful trade barriers of the EU, VAT taxes, ridiculous business fines, non-monetary trade barriers, monetary manipulations, unfair and unjustified lawsuits against American companies and more” behind his recommendation.
He also clarified that there would be no rate for EU products that were built or manufactured in the US, although they have not given any specific examples of what they could be.
The European Commission, the most important executive body of the EU, refused to comment on Mr Trump’s post and said it would wait until after a planned phone call between the trader Maros Sefcovic and his American counterpart Jamieson Greer at 3 p.m. Friday GMT (1am Saturday Aest).
In another position on Truth Social, Mr Trump also focused on Apple CEO Tim Cook, and said that his expectation was that iPhones sold in the US should also be made in the country in the country “not India or another place”.
“If that is not the case, a rate of East -25 percent must be paid by Apple to the US,” the post said.
Apple in Apple fell by 3 percent in pre-market trade after Mr Trump’s announcement, while European markets also fell.
The US is the largest EU export market, good for more than 20 percent of the trade of the block in 2024.
Both the export and import between the two increased last year.
Among the most prominent EU exports to the US are pharmaceutical products and medical products, which were worth around € 120 billion ($ 210.62 billion) last year alone.
Cars and other motor vehicles were also high on the list, good for slightly less than € 40 billion in 2024.
Dutch Prime Minister Dick Schoof calmly called after Mr Trump’s post. His country imports most American goods from every country into the EU.
In the meantime, Mr. Trump’s threat will also cause a headache for Apple, who has a famous complicated supply chain for many of his products.
Although the iPhone is invoiced as “designed in California”, these components from dozens of countries comprise and is largely collected in China.
In his post, Mr. Trump did not specify a start date for the rates on Apple and whether it would apply to more products than the iPhone.
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