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EU and US to Hold Trade Call Friday Amid Differences on Tariffs

  • US President Donald Trump announced a plan to impose 50% tariffs on European Union imports starting June 1, 2025.
  • Trump issued this tariff proposal amid broader fiscal concerns, including a new tax bill expected to increase the US debt by $3.8 trillion over ten years.
  • The tax bill includes cuts, higher defense and immigration spending, while Moody’s downgraded US credit citing unmet fiscal deficit challenges.
  • Trump announced plans to impose a flat 50% tariff on imports from the European Union, exempting products that are made in the United States.
  • These tariffs aim to support US producers and the economy but could raise prices and risk triggering retaliatory trade measures.
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  • 40% of the sources lean Left, 40% of the sources lean Right
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Bloomberg broke the news in United States on Friday, May 23, 2025.
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