Back to today’s briefing

Story perspectives

Trump Threatens 50% Tariff, EU Seeks Trade Deal

6/13/2025

32 7

Summary

Story summary

Tensions rise as President Trump threatens a staggering 50% tariff on EU imports, scheduled for July 9. In response, EU officials are cautiously pursuing a preliminary deal to avert further escalation. Their strategy balances open dialogue with the readiness to implement countermeasures, highlighting the high stakes in this transatlantic trade showdown.

History

Historical Context

The Smoot-Hawley Tariff of 1930 raised duties on over 20,000 imports, triggering retaliatory tariffs that deepened the Great Depression. Today, the European Union faces a potential 50% tariff on imports, echoing past protectionist policies. Such measures could destabilize transatlantic relations and disrupt global trade, reminiscent of the economic fallout from the Smoot-Hawley Act.

1 of 2

Story summary

Tensions rise as President Trump threatens a staggering 50% tariff on EU imports, scheduled for July 9. In response, EU officials are cautiously pursuing a preliminary deal to avert further escalation. Their strategy balances open dialogue with the readiness to implement countermeasures, highlighting the high stakes in this transatlantic trade showdown.

1 / 2