President Donald Trump on Friday threatened the European Union with a sweeping 50% tariff, posting that trade talks with the region are "going nowhere." In a post to his Truth Social platform, Trump wrote that he was "recommending a straight 50% Tariff on the European Union, starting on June 1, 2025." Trump's post immediately sent European stock markets lower with stock indexes in Germany and France sharply dropping 2%. Shares in the U.K. dropped more than 1%. Dow futures slid more than 500 points and S&P futures dropped 1%. The 27-nation bloc is the United States' second-biggest trading partner behind China. The United States exported more than $350 billion of goods exported to the E.U. in recent years, and imported $550 billion worth of goods. Maros Šefčovič, the European Commission's trade chief, and U.S. Trade Representative Jamieson Greerwere setto speak Friday. The European Commission did not immediately respond to a request for comment.
