As millions of Americans crowd stores and websites hunting for Memorial Day savings, former President Donald Trump has reignited economic tensions with Europe, announcing a sweeping 50% tariff on products from the European Union.
In a statement released Friday, Trump cited the breakdown of trade negotiations with European officials, saying talks are “going nowhere” and accusing the EU of taking advantage of American markets.
“Enough is enough. We’ve been too nice for too long. The European Union has to play fair,” Trump said at a press event.
The announcement sent shockwaves through global markets and raised concerns among economists about potential retaliation from EU leaders. The timing — as American consumers are actively buying imported goods — could further strain supply chains and raise prices.
This marks a sharp escalation in Trump’s ongoing push for protectionist trade policies, reminiscent of the high-stakes tariff battles during his previous term.
Political analysts suggest the move may also serve as a strategic play to rally economic nationalism ahead of the 2024 election cycle.
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