{"id":239057,"date":"2025-07-05T03:16:15","date_gmt":"2025-07-05T03:16:15","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/239057\/"},"modified":"2025-07-05T03:16:15","modified_gmt":"2025-07-05T03:16:15","slug":"trump-threatens-crippling-attack-on-the-eu-thatll-leave-key-industry-on-its-knees","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/239057\/","title":{"rendered":"Trump threatens crippling attack on the EU that’ll leave key industry on its knees"},"content":{"rendered":"

President Donald Trump<\/a> has reportedly threatened the European Union<\/a> with a 17 percent tariff on food exports, a move that could cripple that industry.<\/p>\n

The threat came\u00a0ahead of a July 9 deadline to strike a trade deal otherwise the EU faces a 50 percent tax on all its goods going into the United States.<\/p>\n

EU officials told the Financial Times the new food tax is an escalation between the two trading partners.\u00a0<\/p>\n

It was unclear if the 17 percent hit on food and farm exports would be in addition to the other tariffs<\/a>\u00a0announced by Trump or instead of them.\u00a0The value of EU food exports to the U.S., including products such as wine, reached almost $58 billion last year.<\/p>\n

Should the U.S. and EU fail to cut a deal by next week’s deadline, then EU goods imported to the U.S. could be hit by duties of up to 50 percent.<\/p>\n

That could be swiftly followed by retaliatory measures from European bloc that would target a wide range of American goods, including food stuffs and technology.<\/p>\n

\"President <\/p>\n

President Trump is pushing a 17% tax on all foods from EU into the US<\/p>\n

The U.S.-EU trade relationship is one of the biggest in the world, accounting for around 30 percent of global goods.<\/p>\n

Key exports from the U.S. to the EU include crude oil, civilian aircraft, and pharmaceutical products.\u00a0<\/p>\n

The EU, for its part, exports a wide range of goods to the U.S., including machinery, vehicles, chemicals, and food stuffs.\u00a0<\/p>\n

In 2024, trade between the two was valued at around 1.68 trillion euros \u2013 or $1.98 trillion.<\/p>\n

The EU has a surplus of 198 billion euros when it comes to goods, but a deficit of around 148 billion euro in services given the Europeans an overall trade surplus of around 50 billion euros.\u00a0<\/p>\n

Trump has repeatedly railed against the European Union, accusing it of taking advantage of the United States.\u00a0<\/p>\n

The EU was ‘formed to screw the United States,’ he has charged repeatedly.\u00a0<\/p>\n

Negotiations have been challenging.\u00a0<\/p>\n

Reports say the two sides are working on a five-page draft ‘agreement in principle’, but it has very little agreed-upon text in it.\u00a0<\/p>\n

‘What we are aiming at is an agreement in principle,’ European Commission President Ursula von der Leyen said on Thursday, adding that a detailed agreement was ‘impossible’ to reach during the 90-day reprieve.<\/p>\n

She also warned that, if no agreement is reached, ‘all the instruments are on the table.’\u00a0<\/p>\n

\"European <\/p>\n

European Commission President Ursula von der Leyen\u00a0warned that, if no agreement is reached, ‘all the instruments are on the table.’<\/p>\n

Treasury Secretary Scott Bessent seemed hesitant about the odds of agreement being reached before the July 9th deadline.<\/p>\n

‘We’ll see what we can do with the European Union,’ he told CNBC’s ‘Squawk on the Street’ on Thursday.<\/p>\n

Talks are continuing over the weekend.\u00a0<\/p>\n

EU officials may accept maintaining the 10 percent baseline tariff for most goods in exchange for sectoral exemptions, per reports.<\/p>\n

The bloc wants immediate relief for pharmaceuticals, aircraft, semiconductors, and alcohol exports \u2013 critical industries where supply chains span the Atlantic.<\/p>\n

European negotiators, however, are not being helped by internal divisions among its 27 members – some nations want to accept\u00a0higher tariffs in return for a period of certainty and others want to retaliate to put pressure on Trump to compromise.\u00a0<\/p>\n

Friedrich Merz, chancellor of Germany, the EU\u2019s biggest and most export-dependent economy, has been pressing the commission, which runs trade policy, to settle for a quick deal.\u00a0<\/p>\n

He wants exemptions from Trump’s 25 percent tariff on vehicles and 50 percent on steel. Germany is one of the biggest exporters of automobiles.\u00a0<\/p>\n

French President Emmanuel Macron, however, insists on full reciprocity.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump has reportedly threatened the European Union with a 17 percent tariff on food exports, a…\n","protected":false},"author":2,"featured_media":239058,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[92,32,2000,299,5187,12,49,2862],"class_list":{"0":"post-239057","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-dailymail","9":"tag-donald-trump","10":"tag-eu","11":"tag-europe","12":"tag-european","13":"tag-news","14":"tag-united-states","15":"tag-us-politics"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114798459950591452","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/239057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=239057"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/239057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/239058"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=239057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=239057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=239057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}