The Voice News: U.S. President Donald Trump has recommended imposing a 50% tariff on all goods imported from the European Union (EU), according to a post he shared on social media on Friday, May 23. The new tariff is expected to take effect starting June 1. This news was reported by the BBC.
Trump stated, “Negotiations with the EU are not making any progress. Therefore, I recommend directly imposing a 50% tariff starting June 1.”
This announcement is being seen as a new phase in the ongoing trade war between the U.S. and the EU. Initially, Trump proposed a 20% tariff on EU goods but later reduced it to 10% and extended the negotiation period until July 8 to allow for dialogue.
Not only is Europe in the crosshairs, but Apple’s iPhone imports have also come under threat. Trump said he had already informed Apple CEO Tim Cook that iPhones sold in the United States must be manufactured domestically — not in India or any other country. Otherwise, Apple would have to pay at least a 25% tariff.
Since returning to the White House for a second term, Trump has imposed or threatened tariffs on multiple countries across the globe. According to him, such measures will revitalize U.S. manufacturing and protect domestic jobs from foreign competition.
A tariff is a type of domestic tax levied on imported goods, calculated based on the product’s value. The importer is responsible for paying this tax. With the increase in tariffs on access to the world’s largest economy, concerns have spread among business communities across Europe and other countries.
Trump clarified that no tariffs will be imposed on products manufactured or produced within the United States.
