Trump says 'there is no tariff' after announcing new 50% tariff on major trade partner
U.S. President Donald Trump looks on in the Oval Office on the day he signs an executive order, at the White House in Washington, D.C., U.S., May 23, 2025. REUTERS/Kent Nishimura
Just hours after President Donald Trump called for a 50% tariff on products from the European Union starting June 1, he told reporters “There is no tariff,” and “I’m not looking for a deal.”
“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 at 7:43 AM. “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.”
“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!”
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While signing executive orders in the Oval Office on Friday, a reporter said to Trump, “You are deal maker, deal breaker—what are you hoping to achieve with a 50% tariff?”
“Well, I think this is—there is no tariff because what they’ll do is they’ll send their companies into the U.S. and build their plant,” the President responded. “You know, we have, I guess, over $12 trillion practically committed. You look at other presidents, haven’t had a trillion dollars for a year, two years, for three years.”
“We have numbers. Nobody’s ever seen numbers like we have. And if they build their plant here, then they have no tariff at all.”
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“Are you looking for a deal in nine days? Will you be able to do that, sir?” the reporter asked.
“I’m not looking for a deal. I mean, we’ve set the deal. It’s at 50%, but again, there is no tariff if they build their plant here.”
Watch the video below or at this link.
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