Brussels: The European Union has pledged to defend its economic interests after U.S. President Donald Trump threatened to impose a sweeping 50 percent tariff on all imports from the bloc.
In a post on social media platform X, the EU's Executive Vice President for Trade, Maros Sefcovic, said he had spoken with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick about the matter. He emphasized the EU's willingness to continue talks and seek a fair deal.
“The EU remains committed to working in good faith toward an agreement,” Sefcovic stated. “Transatlantic trade is unparalleled and should be based on mutual respect, not intimidation. We are ready to protect our interests if necessary.”
President Trump, writing on his Truth Social platform, said he was advising a 50 percent tariff on EU goods starting June 1, citing stalled negotiations.
Speaking to reporters later at the White House, Trump underscored that he was not seeking a new trade agreement, though he hinted the tariff could be postponed if European firms increased their investment in the U.S. “I’m not negotiating. The terms are set — 50 percent,” he said.
European officials voiced concerns over the economic fallout of such a move. German Economy Minister Katherina Reiche stressed the need for urgent dialogue to reach a compromise, while France’s Foreign Minister Laurent Saint-Martin warned the EU would respond firmly if provoked, though the preference remains de-escalation.
If enacted, the tariffs would result in steeper duties on European products than those currently applied to Chinese goods, following a recent U.S. tariff reduction aimed at encouraging talks with Beijing.
In April, Trump had temporarily reduced an earlier 20 percent tariff on EU goods to 10 percent, extending the timeline to July 8 to allow room for further discussions.
He also took aim at Apple, warning the tech company could face a 25 percent tariff on iPhones sold in the U.S. but not manufactured domestically.
The announcements rattled financial markets, with the S&P 500 sliding 0.8 percent and Europe’s STOXX 600 index declining by 1.2 percent.
