Trump's Tariff Gambit: A Call to the EU
Treasury Secretary Scott Bessent announced President Trump's dissatisfaction with the EU's trade proposals compared to other nations. Trump proposed a 50% tariff on EU goods, aiming to pressure them into negotiations. This announcement followed Bessent's meetings at the G7, where global economic imbalances were discussed.
In a bold move, President Donald Trump has expressed discontent with the European Union's trade offers to the United States, deeming them inadequate according to Treasury Secretary Scott Bessent. The President has issued a stern warning, suggesting a 50% tariff on EU imports starting June 1, in hopes of igniting more serious trade negotiations.
During a recent Fox News interview, Bessent noted that while many U.S. trading partners are negotiating in good faith, the EU lags behind. This comes on the heels of Bessent's meetings with G7 leaders, where the focus was on addressing significant disparities in the global economy, despite differing views on Trump's tariff strategies.
A potential 25% tariff on Apple iPhones made outside the U.S. is also on the table, highlighting concerns over external production, especially in semiconductor components. Trump aims to strengthen domestic manufacturing, encouraging tech giants like Apple to bolster the U.S. semiconductor supply chain for greater security.
(With inputs from agencies.)
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