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Updated: June 28, 2025 07:33
US former President Donald Trump has escalated transatlantic trade tensions by alleging that the European Union imposes excessive tariffs and discriminates against American companies through litigations. His statement is one part of a broader push to redefine US trade policy before the 2025 election cycle.
Key Takeaways
Trump faulted the EU for "a lot of taxes" and "suing our companies," suggesting an uncomradely regulatory environment for US firms
He termed the current US-EU trading relationship as "tough," but claimed that diplomatic ties remain unbroken
Trump stated that America "has the cards" in the trade negotiations, and the government is ready to increase the pressure.
Policy Context
These comments follow Trump's recent threat of the proposed 50 percent tariff on EU goods, effective from June 1
The move is being depicted as a response to what he calls an imbalanced trade policy and a $250 billion a year trade deficit with the EU
European markets have already responded, with the stock indexes falling and the threat of a new trade war looming again
Global Implications
Experts caution that such hostile tariffs can destabilize worldwide supply chains and test US-EU economic relations
The EU is reported to be preparing a measured response, but no formal retaliation has been made.
Sources: Economic Times, Yahoo Finance, Bruegel Institute, Reuters, Bloomberg
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