US President Donald Trump has set a deadline of 4 July for the European Union to finalise a trade deal with the United States. In a post on his social media platform, Truth Social, the President warned that he will significantly increase import taxes if the deadline is missed.
These comments follow a conversation with European Commission President Ursula von der Leyen. Trump claimed he has waited “patiently” for the EU to honour the agreement reached last summer. He stated that the deal must be implemented by America’s 250th anniversary, or tariffs will “immediately shoot up.”
The European Commission expects to reach an agreement on part of the deal later this month. These talks focus on removing taxes on American lobster and various industrial products. However, Ursula von der Leyen has previously suggested that the US itself is not yet following all the agreed terms.
Negotiations between EU leaders and the European Parliament have faced delays, with talks set to resume on 19 May. The pressure is mounting, as Trump has already threatened to raise taxes on European cars and lorries to 25% if he feels the bloc is failing to stick to the rules.
Last summer, both sides agreed to a 15% import tax on most European products entering the US. Trump’s latest ultimatum suggests those rates could rise sharply if progress is not made by the July deadline.
@anp | NEWS BRAINPORT
