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Summary
Donald Trump announced plans to impose a 50% tariff on EU imports starting June 1, 2025, citing stalled negotiations and criticizing the bloc for various trade barriers and unfair practices against American companies. Following his statement on Truth Social, U.S. stock markets declined, with S&P 500 futures dropping 1.5% and the Stoxx Europe 600 index falling 1.7%. Previously, the U.S. had imposed a 20% reciprocal tariff on most EU goods, reduced until July 8 for talks, while maintaining 25% tariffs on steel, aluminum, and car parts.
