In a significant shift in trade policy, U.S. President Donald Trump announced on Friday that a 50% tariff on goods imported from the European Union (EU) will come into effect on June 1. Speaking at the White House, Trump reaffirmed his intention to implement these tariffs, stating that he is 'not looking for an agreement' with the EU. He further indicated that manufacturers establishing operations in the United States would be exempt from these tariffs, signaling a conditional offer for a reprieve on tariff imposition for those who express a desire to build factories in the U.S.

Trump criticized the EU for non-tariff barriers that complicate trade.

He pointed to the EU's restrictions against American automobiles and agricultural products, emphasizing the disparity in trade practices where U.S. markets accept EU products in large quantities while American goods face significant hurdles.

He highlighted that these practices contribute to job losses in the United States, resulting in closed factories.

In a related announcement via social media, Trump suggested that the ailing U.S. electronics giant Apple could face a 25% import tariff if it does not manufacture its products in the United States.

The president stated that his discussions with Apple’s CEO conveyed that should the company opt to relocate its production to India as a substitute for China, tariffs would apply to products manufactured abroad and sold in the American market.

Simultaneously, Trump signed executive orders aimed at expanding nuclear energy production in the U.S. The administration will facilitate the permitting process for new nuclear plants as part of a broader strategy to bolster domestic energy capabilities.

Trump remarked, 'The time for nuclear is now, and we are going to do it big.'

The announcement followed earlier discussions in May, where the U.S. and China agreed to reduce tariffs in a move to end an ongoing trade war.

Following talks in Geneva, representatives from both countries revealed plans to cut American tariffs from 145% to 30% and Chinese tariffs from 125% to 10% as part of an effort to stabilize bilateral economic relations.

A framework for ongoing discussions was also established to address trade disputes.

In early April, President Trump indicated his administration's intent to impose a 20% tariff on imports from the EU and a 34% tariff on imports from China, citing economic imbalances as a driving factor.

He highlighted that the U.S. trade deficit has reached $1.2 trillion for 2024, reflecting a long-standing practice he claims has exploited American economic interests.

Global reactions have been swift, with many countries condemning the tariff announcements and vowing to impose their own tariffs on U.S. goods.

Ursula von der Leyen, President of the European Commission, called for an end to confrontational tactics, urging negotiations instead.

The Chinese Ministry of Commerce has demanded the immediate elimination of tariffs while warning of potential retaliatory measures to protect its interests and rights.

Overall, these developments signify a growing tension in international trade relations, reflecting the complexities of global economic interdependencies.