Donald Trump threatens the EU of 50 % customs duties from June 1, European scholarships tumble – Liberation
The trade war is more beautiful. Donald Trump threatened the European Union this Friday, May 23, to apply 50 % customs duties to European products imported into the United States from June 1, believing that Negotiations in progress « Don’t go anywhere ».
“It is very difficult to deal with the EU, which was created in the first place to enjoy the United States from a commercial point of view. (…) Our discussions are not going. Under these conditions I recommend that I impose 50 % customs duties on the EU, from June 1. There is no customs duties on products manufactured in the United States« , wrote the American president on his Truth Social platform.
The American president also denounced, pell-mell, the « Commercial barriers, VAT, ridiculous sanctions against businesses, non-doud barriers, monetary manipulations, unjustified and unjust proceedings against American companies, which led to a trade deficit of more than $ 250 million per year, which is completely unacceptable ».
Donald Trump has repeatedly denounced the United States trade deficit in these bilateral exchanges with Europe, which he estimates between 300 and 350 billion dollars. According to data from the White House representative to trade (USTR), the United States’s trade deficit with the EU amounted to 235 billion dollars in 2024 But the European Commission disputes this data, Speaking of 150 billion euros (around 160 billion dollars) for property alone, and only 50 billion euros by integrating the American trade surplus in terms of services.
Customs duties applied to European products currently amount to 12.5% on average, 2.5% corresponding to the level before Donald Trump’s return to the White House, to which have been added 10% since early April and the announcement of its so -called customs duties « Converse ». The White House initially planned to tax European products up to 20%, before announcing a 90-day break on customs duties beyond 10%, the time to let the negotiations arrive at their end. This break should be completed theoretically in early July.
The European Commerce Commissioner, Maros Sefcovic, spoke several times in recent weeks with his American counterparts, the Treasury Secretary Scott Bessent, The Secretary of Commerce Howard Lunick and the Representative of Commerce Jamieson Greer, but without real advances having been carried out so far.
Donald Trump’s message on Truth Social caused the fall of European scholarships. The CAC 40 digs its losses to more than 3%, weighed down by its heavyweights of luxury and the automobile. Shortly after 2 p.m., the index lost 3.06% to 7,624.44 points. Titles in the luxury sector Kering (-3.90% at 168.90 euros), Hermès (-4.14% to 2,336.00 euros) and LVMH (-3.16% to 469.95 euros), particularly dependent on the American market, were falling strongly. The Stellantis automotive group, also very present in the United States, ceded 4.74% to 8.74 euros.
Update: at 2:40 p.m. with more context
