US customs duties: Trump threatens European products and then makes volte-face
Pressure, then strategic retreat. On Friday 23 May, Donald Trump, once again stirred up the trade tensions between the United States and the European Union by declaring that he wanted to impose 50% additional customs duties on European imports as from 1 May.and June. The announcement immediately shook markets and industry, including automotive, agri-food and luxury sectors. Two days later, Sunday evening, May 25, Donald Trump finally returned to his remarks after a telephone exchange with the President of the European Commission, Ursula von der Leyen, assuring that no decision would be taken until July 9, the initial date of the end of the 90-day truce granted by the US President on reciprocal customs duties (cf. Commercial War: 90-Day Truce for US Reciprocal Tariffs, Except for China). The European Commission immediately reacted by demanding more respect from Washington.
Recall that European goods imported into the United States are currently subject to reciprocal customs duties additional 10 %, except for steel, aluminium and vehicles with a rate of 25 %. If no negotiations were concluded before 8 July, these surcharges could increase.
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