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2025 United States tariffs against the European Union

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2025 United States tariffs against the European Union
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StatusOngoing
  • United States tariffs on the European Union announced on February 26
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On February 26, 2025, United States President Donald Trump announced his administration's plan to impose a 25% tariff on goods imported from the European Union. The announcement came after several protectionist trade policy announcements from the Trump administration.[1]

Background

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The European Union represents the United States' third largest trading partner. According to economic analysts, broad tariffs on European Union goods would potentially impact hundreds of billions of dollars in trade between the United States and European nations.[1]

The threatened European Union tariffs came amid a broader pattern of protectionist trade policy announcements from the Trump administration in early 2025. Before the European Union announcement, the administration had already declared plans to implement 25% tariffs on the United States' two largest trading partners, Canada and Mexico.[2]

Tariffs

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During his February 26 cabinet meeting, President Trump declared that his administration had "made a decision" regarding trade policy with the European Union and would be "announcing it very soon." He specified a planned tariff rate against European Union imports 25% that would be applied "generally", mentioning automobile manufacturers as potential targets.[2] During his remarks, President Trump characterized the European Union as having been "formed to screw the United States".[2]

Impact

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According to European Union estimates, the impact of proposed 2025 tariffs would be approximately four times larger than those imposed in 2018, potentially European Union officials noted that the expected impact of approximately €28 billion would be roughly four times larger than the previous round of metal sector tariffs. European Commissioner for Trade and Economic Security Maroš Šefčovič indicated that the situation remained fluid, with potential changes to the details and scope of the tariffs still possible before implementation.[3] The STOXX Europe 600 index fell 0.8% following the announcement.[4]

The Kiel Institute for the World Economy estimated that the tariffs would cause the European Union economy to contract by 0.4% and the United States economy to contract by 0.17%.[5]

See also

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References

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  1. ^ a b Rushe, Dominic (2025-02-26). "Trump vows to slap 25% tariffs on EU and claims bloc was 'formed to screw US'". The Guardian. ISSN 0261-3077. Retrieved 2025-02-26.
  2. ^ a b c Politi, James (2025-02-26). "Donald Trump says he will impose 25% tariffs on imports from EU". Financial Times. Retrieved 2025-02-26.
  3. ^ Valero, Jorge; Nardelli, Alberto (February 22, 2025). "EU Sees €28 Billion Hit From Trump's Steel and Aluminum Tariffs". Bloomberg News. Retrieved February 22, 2025.
  4. ^ Novik, Mari; Kazmin, Amy (February 27, 2025). "European stocks fall after Donald Trump's tariff warning". Financial Times. Retrieved February 27, 2025.
  5. ^ Inman, Phillip (February 27, 2025). "Trump's threatened 25% tariffs on EU imports could trigger 'economic turmoil'". The Guardian. Retrieved February 27, 2025.
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