EU Responds to Trump's Tariff Threat: Calls for 'Respect'
The European Union has responded to former US President Donald Trump's threat of imposing 50% tariffs on EU goods, asserting its commitment to a trade deal based on mutual respect rather than intimidation.
EU's Stance
EU Trade Commissioner Maros Sefcovic emphasized the bloc's readiness to defend its interests after Trump voiced impatience with ongoing trade negotiations.
Trump's Remarks
Trump's remarks, made on his Truth Social platform, indicated a potential tariff imposition on June 1st, excluding US-manufactured products. Despite this, he hinted at a possible delay if a significant European investment were made in the US.
Trade Imbalance
The EU remains a major trading partner for the US, with substantial goods exchange annually. Trump's complaints center on the trade imbalance, with the EU exporting more goods to the US than it imports.
European Response
European leaders have cautioned against escalating tariffs, advocating for negotiation as the preferred path forward.
Market Impact
The escalating trade tensions have negatively impacted stock markets in both the US and Europe.
