President of the United States Donald Trump calls for the introduction of duties of 50 percent on goods from 1 June European Union. It is hard to talk about trade with the EU," Trump said on Friday on social media. There will be no duties if the product is manufactured in USA.
"The European Union, which was created primarily to usage the United States in trade, is very hard to manage," Trump criticised. "Our conversations with them have no effect". He criticized "powerful trade barriers, value added taxes, absurd corporate penalties, non-monetary trade barriers, currency manipulation, unfair and unjustified lawsuits against American companies and many others". The European Commission refused to comment and wanted to wait for a call from the EU Trade Commissioner Marošem Šefčovičem (58) and representatives of the USA.
The U.S. President's statements immediately sparked reactions in the financial markets. The German stock index Dax continued to decline, while the euro returned profits. besides in the U.S. the stock exchanges at the beginning show signs of decline.
Some tariffs have been suspended since April
In April, after major turbulence in the stock exchange and financial markets, Trump unexpectedly decided to grant many countries, including the EU, a 90-day break in the application of certain duties. These are criminal taxes, imposed on the basis of the trade deficit of individual countries. The president of the United States so temporarily halted part of the immense customs package announced in early April. The EU has besides announced that it will suspend the planned work on US products for 90 days.
Trump threatened the EU to introduce general tariffs of 25 percent if no agreement was reached with the US. Previously, the deadline was in July. The Trump administration has not yet responded to Brussels' bid to cross-exempt all duties on industrial goods. However, Trump has shown optimism in the past and believed that the settlement of the tariff dispute would be found with Europeans.
