The President of the United States announced that starting June 1, a 50% tariff will be applied to imports from the European Union, citing dissatisfaction with the progress of trade negotiations.
Speaking to reporters, the President stated that the move reflects a more assertive strategy toward international trade relations. The initial announcement, made via social media, had an immediate impact on financial markets.
In addition, the administration signaled the potential introduction of a tariff of at least 25% on smartphones manufactured outside the U.S., including devices imported by tech companies. This measure could take effect by the end of June. According to the President, affected companies have been encouraged to consider relocating their production to the United States to avoid these tariffs.
Previously, the U.S. had delayed the implementation of broader tariffs for 90 days to allow for continued negotiations. While government officials have reported progress in discussions with countries in Asia, they expressed concern about the lack of movement from EU leadership.
Although the President did not rule out possible exemptions for specific companies or industries, he indicated no interest in reaching a broad agreement with the EU before the set deadline. So far, only a preliminary trade agreement with the United Kingdom has been announced, with discussions ongoing with other partners, including China.
According to officials overseeing trade policy, new tariff rates may be rolled out gradually over the coming weeks.
