Trump has set a July 4 deadline for EU tariff hike | Political Affairs

Trump said he had a “big call” with European Commission President Ursula von der Leyen about the upcoming tariffs.

US President Donald Trump has said he is giving the European Union until July 4 to agree on a trade deal, or the US will raise tariffs on the bloc.

Trump’s announcement on Thursday follows what he called a “big call” with European Commission President Ursula von der Leyen.

“I have been waiting patiently for the EU to implement their side of the Historic Trade Deal we agreed on in Turnberry, Scotland, the biggest Trade Agreement ever!” Trump said in a post on Truth Social.

The 27-nation bloc has yet to finalize the deal.

“A promise was made that the EU would deliver their part of the Agreement and, according to the Agreement, they cut their Tariffs to ZERO! I agreed to give it until our country’s 250th birthday or, unfortunately, their Tariffs will go up very quickly.”

On Friday, Trump threatened to increase tariffs EU cars are cars to 25 percent from 15 percent among the cases that the EU did not comply with the terms of the agreement. The automobile sector makes up 8 percent of all trade between the United States and the European Union, according to the European Automobile Manufacturers’ Association (ACEA).

Under the original terms of the plan, the US will pay a 15 percent tariff on most goods imported from the EU – not just cars and trucks.

But since the Supreme Court’s decision, regulators have imposed a 10 percent tax while investigating trade imbalances and national security issues, with the goal of setting new rates to recoup the lost revenue.

The two leaders also discussed Iran, Trump said, and agreed that Tehran would not have a nuclear weapon.