President Donald Trump is recommending the implementation of a 50% tariff on imports from the European Union starting June 1, he announced Friday.
The news comes days after Bloomberg reported that the EU sent new proposals to the United States in an effort to advance trade negotiations pertaining to currently paused reciprocal tariffs on the bloc.
“Our discussions with them are going nowhere,” Trump said Friday, while calling out trade barriers like value-added taxes as a driver of a “totally unacceptable” trade deficit between the U.S. and the EU.
In 2024, the U.S. had a trade deficit of $236 billion with the EU, per data from the United States International Trade Commission.
