Trump threatens “straight 50%” tariff on European Union

President Trump announced on Truth Social on Friday that he is considering imposing a 50% tariff on imports from the European Union at the beginning of next month. This could heighten international trade tensions following the White House’s recent indications of progress in trade negotiations. Trump’s proposed import taxes have caused concern in financial markets and led to fears of a global recession. In his statement, Trump stated, “I am suggesting a flat 50% Tariff on the European Union.”