The president Donald Trump threatened on Friday with duties 50% in products from the European Union, citing a lack of progress in current trade negotiations.
“Their strong trade barriers, VAT taxes, ridiculous corporate penalties, non -monetary trade barriers, monetary manipulation, unjust and unjustified lawsuits against US companies, and much more, have led to a trade deficit with the US over $ 250,000.” wrote in a post on Truth Social on Friday morningDonald Trump for duties.
“Our discussions with them do not lead anywhere!” Trump wrote.
“As a result, I recommend a 50% immediate duty to the European Union, starting from June 1, 2025.”
But later on Friday, during the signing of an executive decree in the Oval Office, Trump escalated his message to the EU.
“I’m not looking for a deal,” he said. “We have set the deal – it is at 50%,” he said.
Trump “opened” a “window” to further extending the June 1st deadline, saying: “If someone comes and wants to build a factory here, I can talk to him about a slight delay.”
Olof Gill, a spokesman for the European Commission, refused to comment immediately, saying he was waiting until the telephone communication between Maros Sefcovic, European Commissioner for Trade and US Commercial Representative Jamieson Greer. Gill did not clarify when the call would take place.
Reuters reported that it was set to take place at 11am. Greek time on Friday. USTR representative did not respond to CNN’s request for commentary.
Shortly after Trump’s post on Truth Social on Friday morning, Finance Minister Scott Bessed said in an interview with Fox News that “EU proposals were not of the same quality we have seen from our other major commercial partners”.
“I’m not going to negotiate on television, but I hope this will light a fire in the EU,” Bessed said, adding that “the EU has a collective action problem.”
After Apple and Samsung faced with 25% duties
President Donald Trump demanded that Apple and other smartphone manufacturers, such as Samsung, manufacturing their phones in the United States or dealing with a 25%duty on Friday (23/5/25).
“I have long informed Apple’s Tim Cook that I am expecting their iPhones to be sold in the United States of America will be manufactured in the United States, not in India or anywhere else,” Trump said on Friday morning at Truth Social. “If this is not the case, at least 25% duty should be paid from Apple to the US.”
Speaking to the press at the Oval Office on Friday after signing executive decrees, Trump said the duty would apply to any telephone manufacturer selling devices in the US.
“There would be more. It would also be Samsung and anyone who manufactures this product, “Trump told reporters. “Otherwise it would not be fair.”
Trump last week, during his trip to the Middle East, said he was unhappy with Cook, Apple’s CEO, for the company’s plan to build the iPhones to be sold to the United States in newly built factories in India.
Around 21.30 (Greek time) Apple’s share fell 2.76%to $ 195.81 in Wall Street.
The plan to transfer mobile phones to the US “is not realistic”, commented Wedbush analyst Daniel Abs, estimating that it will take 5-10 years to do so. And, if done, their price will be launched.
Trump signed four decrees for the “regeneration” of nuclear energy
US President Donald Trump has earlier signed four decrees that, according to one of his adviser, aimed at the “regeneration” of nuclear energy in the country as it aspires to quadruple production over the next 25 years.
The Republican president, who promised “fast and safe” procedures, mainly wants not to exceed 18 months to examine a request for the construction of a new nuclear reactor. It also intends to reform the Nuclear Energy Regulatory Committee and to increase uranium mining and enrichment.
“It’s time for the nuclear,” Trump said at a press conference he gave to the Oval Office.
Interior Minister Doug Bergam, who was present at the signing of the decrees, said the stakes “to produce enough electricity to win the duel of artificial intelligence with China”.
“We want to be able to try and develop nuclear reactors during the current term” of the president, that is, until January 2029, a White House adviser said earlier in a conversation with journalists.
The US is the largest power in the world in terms of nuclear energy, having 94 reactors in operation. However, their age is increasing as it today reaches an average of 42 years.
Due to the increasing need for electricity, mainly by artificial intelligence and the intention of some countries to fade their economy, nuclear energy is again giving interest, worldwide. France, with 57 reactors, announced in 2022 a new program for the construction of 6-14 new ones. The first is expected to be ready in 2038. China also has 57 reactors in operation and already manufactures another 27.
Russia is the largest “export” of nuclear reactors, as it constructs a total of 26, of which only 6 are on Russian territory.