2LT International News

WASHINGTON, DC – U.S. President Donald Trump re-ignited his trade war on Friday with an extraordinary attack on the European Union which punctured global stock markets, particularly in Europe, and accelerated recent falls in the U.S. dollar.

“Their 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 $250,000,000 a year, a number which is totally unacceptable,” the president posted on Truth Social on Friday..

“Our discussions with them are going nowhere!” he said.

“Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”

Later in the day Mr Trump seemed to be losng patience.  At an executive order signing in the Oval Office, the president responded to a question about European trade talks. “I’m not looking for a deal,” he said. “We’ve set the deal, it’s at 50%.”

Treasury Secretary Scott Bessent followed-up. “I’m not going to negotiate on TV, but I would hope that this would light a fire under the EU,” he told Fox News in an interview. on Friday. “The “EU has a collective action problem, ” he said.