We are being ruled by a total madman…
“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,” Trump wrote on Truth Social.
“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,” he continued.
“Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!” Trump added.
Trump previously “paused” some of his so-called “reciprocal” tariffs on foreign countries so that negotiations could be conducted, keeping 10% in place for most countries. If these trade discussions are truly “going nowhere” it’s because of Trump and his deeply incompetent diplomats.
According to The New York Times, foreign officials have revealed that the Trump administration “has not made their demands clear” and they see little reason to grant any “big concessions” to Trump since he could just hit them with tariffs again at a later date. They know they’re dealing with a dishonest negotiator.
Estimates by the Kiel Institute for the World Economy suggest that these new tariffs would cause a staggering 20% drop in exports from the EU to the United States and as much as a 6% increase to prices in the U.S.
At this point, what more can even be said about these disastrous trade wars? Nobody beyond the most hardcore MAGA cultists still believes that foreign nations pay these tariffs. They are a tax on American consumers.
The U.S. economy is already struggling under the weight of the crushing 25% tariffs on goods from Canada and Mexico in addition to the 30% on China. New tariffs on EU goods will drive up the prices for Americans, cause shortages on the shelves, and send the stock market plummeting.
This Truth Social announcement comes just days after it was revealed by Politico that European business travel bookings to America cratered by 26% in April compared to last year.
European businesses are pivoting away from the United States to markets with “greater stability” due to the erratic behavior of the MAGA regime. By the time Donald Trump is done, nobody will want to do business in this country.
