Quotes
The threats, delivered over social media, reflect Trump's ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters,
reported The Associated Press about the move
We've had this de-escalation tailwind at the market's back for like six weeks now -- and the market has had one of its best six-week stretches in the last 75 years -- and a re-escalation of trade war rhetoric threatens that. I don't think we'll retest the lows or anything like that, unless it really ramps up, but this is certainly a step in the wrong direction from the market's perspective,
said Ross Mayfield, investment strategist at Baird, in an interview with CNBC
This week he stupidly went and handed ourselves over to the EU on SPS, where we have now become a rule-taker from the EU
Former Tory leader Sir Iain Duncan Smith said
President Trump has always been sceptical about the EU as an organisation and his imposition of major tariffs highlights yet another reason why we're well out of it.
Tory MP Mark Francois, chairman of the European Research Group, saidI'm not looking for a deal. I mean, we've set the deal. It's at 50 per cent,
Trump said
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The EU's fully engaged, committed to securing a deal that works for both,
Commissioner Maros Sefcovic posted on X following talks with his US counterpartsEU-US trade is unmatched & must be guided by mutual respect, not threats. We stand ready to defend our interests,
he addedAt any moment, things can change overnight, making it extremely difficult for companies such as Apple to plan their business,
Wood said
It would be also Samsung and anybody that makes that product,
Trump saidTrump is not wrong that the EU has been less forthcoming than other countries, but the EU also has good reason to be reluctant to engage in this kind of exercise, and so they are at an impasse,
said Josh Teitelbaum, senior counsel of Akin
There are many long-standing trade problems with the EU, for years and years, and I think that is why the administration wants the EU to come to the table,
Brightbill saidThe EU is a significant trading partner, and a 50% tariff would potentially cause economic harm and the EU could retaliate, which would further escalate the economic harm,
said Timothy Brightbill, partner at Wiley and co-chair of its international trade practiceHe has a mechanism to make good on this threat,
Akin saidEurope was stable and steady,
said AbbottNeedless to say, a 50% tariff would be a huge, costly tax increase,
Anthony wrote in a LinkedIn postImplementing a 50% tariff represents an effective rate increase of 20-200x depending on the state,
he saidA big tariff on European imports will backfire, making American products more expensive to produce,
he saidTrump's frustration reflects that underlying dynamic,
he saidThere are a lot of countries and a lot of varying degrees of views on whether to negotiate in the first place, so, it will be very difficult to reach a consensus,
he saidWe have seen before that tariffs can go up and down in talks with the US,
he said