- Tariff Threat: President Trump announced a potential 50% tariff on European Union goods due to stalled trade negotiations and a significant trade deficit, stating that discussions were unproductive and indicating his administration’s dissatisfaction with EU trade practices.
- Market Reaction: Following Trump’s announcement, stock markets fell sharply, with major European and U.S. indexes experiencing significant losses, reflecting investor concerns over a potential escalation in the trade war.
- EU Response: EU officials, including Trade Commissioner Maroš Šefčovič, and leaders from member states expressed disappointment and emphasized their willingness to negotiate, while also preparing retaliatory measures if the U.S. tariffs are implemented.
Source CNN
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