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Trump recommends 50% tariff on European Union starting June 1

  • On May 24, 2025, President Donald Trump threatened to impose 50% tariffs on European Union imports starting June 1, affecting U.S. And global markets.
  • Trump made these threats on Truth Social, citing stalled trade talks with the EU and specifying tariffs would target all smartphones made abroad, including Apple and Samsung.
  • Following the announcement, U.S. Stocks fell sharply with the S&P 500 dropping 0.7% and the Dow Jones losing 256 points, while European markets also declined, led by France's CAC 40 down 1.7%.
  • Trump’s tariff threat contributed to market volatility amid ongoing trade war concerns, with companies like Deckers Outdoor withdrawing financial forecasts and Walmart warning of price increases due to tariffs.
  • These developments suggest heightened trade tensions could disrupt supply chains and investor confidence, with tariffs possibly starting within a week and raising concerns of broader economic impact.
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Trump on Tariffs on EU Goods: Not Looking for a Deal

For weeks, the European Union and the US have been negotiating to avert high US tariffs. Now, the US President is threatening to impose tariffs of 50 percent - and at first, he does not show any distraction.

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  • 51% of the sources are Center
51% Center
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The New Republic broke the news in on Friday, May 23, 2025.
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