Trump Proposes Major EU Tariff Hike

President Donald Trump announced on Friday his recommendation to impose a significant 50% tariff on imports from the European Union, starting June 1. This move aims to combat what Trump describes as challenging trade relations with the EU.

Trump, expressing his frustrations, stated on Truth Social, '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.' He underscored ongoing trade discussions that, according to him, have hit a deadlock.

As June approaches, this proposed tariff increase could mark a substantial change in trading dynamics between the U.S. and one of its largest trading partners, potentially impacting numerous industries reliant on European goods.

(With inputs from agencies.)