Kathmandu. US President Donald Trump has announced a 50 percent tariff on European Union (EU) countries.
In a social media post, Trump announced a 50 percent tariff on all products coming from the EU. “As long as those products are not produced in the US, there will be tariffs. ’
Trump has said that tariffs will be applicable on goods coming from the EU from June 1. According to a PTI report, Trump is disappointed that the trade deal with the EU has not moved forward. The EU has proposed to reduce all tariffs to zero by mutual consent. While Trump is adamant on imposing a 10 percent tariff on all imports.
Speaking to reporters in the Oval Office, Trump made it clear that he does not want any deal with the EU. “If companies invest in the US, they can avoid tariffs,” he said.
Reacting to Trump’s tariff announcement, EU trade chief Maros Sefcovic said: “We are committed to doing business with respect with the United States, not out of fear of threats.” ’
“There is a lot of trade between the EU and the US. This should be done with mutual respect and not by threats. We are ready to protect our interests. ’
The EU and the US have more than $900 billion in mutual trade. Last year, the EU shipped goods worth more than $600 billion to the United States and bought goods worth $370 billion. – Agency
