US President Donald Trump has warned of imposing a 50% tariff on all goods imported from the European Union, the BBC reports.
Trump also issued a warning to Apple, saying he would impose a 25% import tax on iPhones not manufactured in the United States.
The warning to the EU came just hours before scheduled trade talks between the two sides. Last month, Trump announced a 20% tariff on most EU goods but had reduced it to 10% until July 8 to allow time for negotiations.
Following the talks, the EU issued a statement reaffirming its commitment to reaching a deal, while also cautioning that it is prepared to retaliate if necessary.
“EU-US trade is unmatched and must be guided by mutual respect, not threats,” European Union Trade Commissioner Maroš Šefčovič wrote on social media. “We stand ready to defend our interests.”
Speaking to reporters at the White House on Friday afternoon, Trump expressed frustration with the slow pace of the negotiations, saying the tariff increase planned for June 1 was still on track.
“I’m not looking for a deal — we’ve set the deal,” he said, but added that a significant investment in the US by a European company might prompt him to delay the tariffs.
The European Union is one of the US’ largest trading partners, exporting more than $600 billion worth of goods to the US last year, while importing approximately $370 billion, according to US government data.
sa/mud
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