Former US President Donald Trump has suggested imposing a 50% tariff on goods from the European Union, effective June 1, 2025, citing stalled trade negotiations and a substantial trade deficit.

Trump announced his recommendation on his social media platform, Truth Social, asserting that the EU was formed to exploit the United States in trade. He emphasized that products manufactured or produced within the US would be exempt from these tariffs.

The announcement has already impacted financial markets, with the Danish C25 index experiencing a downturn, mirroring declines in European and American stocks.

Trump stated that discussions with the EU have been unproductive, leading him to advocate for the increased tariffs. He criticized the EU for “trade barriers, tariffs, ridiculous corporate penalties, currency manipulation, unfair and unwarranted lawsuits against American companies, and more,” describing the US trade deficit with the EU as “totally unacceptable.”

The EU Commission has refrained from commenting on Trump’s proposal, pending a discussion between the EU’s trade chief and the US trade representative.

This proposal follows a series of tariff-related announcements from Trump in recent months. In April, he proposed a 10% tariff on all imports to the US and higher tariffs for specific countries and regions, including a 20% tariff on most EU goods. The higher tariff was temporarily put on hold to allow for negotiations with individual countries. The EU tariff was subsequently reduced by half until July 8, while tariffs of 25% on cars, steel, and aluminum have remained in effect.