President Trump has launched a full-scale trade war with the European Union, announcing a 50% tariff on EU imports starting June 1, 2025. Trump accused the EU of exploiting the U.S. through unfair trade practices, VAT schemes, and currency policies, blaming them for a $250 billion trade deficit. The move follows failed negotiations and previous rounds of tariffs on European steel, cars, and aluminum. The EU had paused retaliatory tariffs and offered mutual tariff cuts, but now faces a hard deadline of July 8 to strike a deal—or face more economic firepower from Washington.
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