Washington: US President Donald Trump called today for imposing 50% tariffs on goods imported from the European Union, starting June 1. Trump stated via his account on the Truth Social platform that “dealing with the European Union, which was formed primarily to exploit the United States on trade, is very difficult… Our discussions with them are not yielding any results.”

According to National Iraqi News Agency, EU indices declined following US President Donald Trump’s statements about imposing 50% tariffs on European Union products imported into the United States. The Paris Stock Exchange fell by 2.43%, the Frankfurt Stock Exchange fell by 2.03%, and the Milan Stock Exchange index fell by 2.77%.

US President Donald Trump had announced in early April the imposition of tariffs of approximately 20% on imports from the European Union, but in the middle of the same month, he decided to postpone the implementation of the decision for 90 days.