Former US President Donald Trump has suggested increasing tariffs on goods from the European Union to 50 percent, effective June 1, 2025, citing stalled trade negotiations. This announcement, made on his social media platform Truth Social, has already impacted financial markets.

Trump stated that the EU was formed primarily to exploit the US in trade and that discussions with them were unproductive. He emphasized that products built or produced in the US would be exempt from these tariffs.

Following Trump’s statement, the Danish C25 index experienced a downturn, mirroring declines in European and American stocks. The EU Commission has withheld comment, awaiting a discussion between the EU’s trade chief and the US trade representative.

Trump’s recent history regarding tariffs has been characterized by fluctuating announcements. In April, he proposed a 10 percent tariff on all imports to the US, with significantly higher tariffs for specific countries and sectors, including a 20 percent tariff for most EU goods.

While the higher tariffs were temporarily suspended to facilitate negotiations with individual countries, the EU tariff was halved until July 8. However, tariffs of 25 percent remain in place for cars, steel, and aluminum.