Trump threatens Europe with 50% tariffs: trade war on June 1st?

Trump threatens Europe with 50% tariffs: trade war on June 1st?

US President Donald Trump announced on May 23, 2025 that he and the US government intend to impose import tariffs of 50 percent on products from the European Union starting June 1, 2025. This threat came against the backdrop of failed negotiations between Washington and Brussels in which the US is seeking a stronger trade balance. On his online service Truth Social, Trump said that the EU was founded to exploit the USA in trade policy and cited trade barriers such as VAT and currency manipulation as core problems.

US Treasury Secretary Bessent was optimistic and hoped that the aggressive threat could stimulate negotiations with the EU. Federal Foreign Minister Wadephul, however, warned of the possible consequences that such tariffs could have for both markets. Economics Minister Reiche emphasized the need for more trade instead of less. Dutch Prime Minister Schoof called on the EU to respond calmly but robustly to the threats, while France's Trade Minister Saint-Martin expressed similar views. Europe sticks to its line of de-escalation, but shows itself ready to react accordingly.

Consequences for companies and consumers

Trump has also threatened to impose 25 percent import taxes on US companies like Apple unless they move production to the US. If the 50 percent tariffs actually go into effect, it could lead to significant price increases for cell phones and other imported products in the United States. This could have a lasting impact on consumer demand and destabilize the market.

Holger Schmieding, chief economist at Berenberg Bank, described the situation as a significant escalation in trade tensions between the US and the EU. Of particular concern is that the threat of tariffs on food, which has caused problems in trade negotiations in the past, could further inflame tensions. In the past, Trump had announced a 90-day pause on certain tariffs to promote dialogue with the EU, but current developments show a drastic change.

• US-Präsident Trump droht mit 50 Prozent Zöllen ab dem 1. Juni.
• Hoffnung auf Einigung wird von US-Finanzminister geäußert.
• EU zeigt sich bereit zur deeskalierenden Reaktion.
• Folgen für US-Unternehmen wie Apple sind besorgniserregend.
• Marktreaktionen: europäische Aktienmärkte fallen um rund drei Prozent.

The resistance to Trump's aggressive trade course may continue to weaken. The reaction of the financial markets was immediate: European stock markets fell by around three percent, while Apple shares also fell. At the same time, the euro came under pressure and demand for safe investments such as German government bonds increased noticeably. Ultimately, it remains unclear whether the threatened tariffs will actually come into force, but the market clearly shows that the uncertainties of the current situation are already having a noticeable impact.

The development serves as further evidence of the complex and often unexpected dynamics in global trade. International relations are further challenged by such threats, while political and economic decision-makers must seek solutions to maintain constructive dialogue.

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