President Trump has announced a threat to impose a 50% tariff on all European Union products starting June 1, expressing frustrations with EU trade practices. He claims that the EU has been difficult to negotiate with, elaborating that the bloc was created primarily to exploit the U.S. economically. Current negotiations have led to a 10% tariff for all countries except China, with Trump signaling urgency in reaching agreements. He highlights various trade barriers and penalties that have contributed to a significant trade deficit with the EU, deeming it unacceptable.
The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with.
Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable.
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