WASHINGTON — Tariffs could soon be back on the table.
President Trump threatened early Friday to impose a 50% duty on all products from the European Union beginning next month — an announcement one source close to the administration suggested was the commander in chief playing “hardball” with the Brussels-based bloc.
“You can either play ball with POTUS or he’s going to play ball with you,” this person told The Post, later adding the strategy was “also known as ‘FAFO’ [f— around and find out].”
The president’s latest tariff warning shocked markets ahead of the long Memorial Day weekend, with the Dow Jones Industrial Average slumping to a 256-point loss, the Nasdaq falling 188 points and the S&P 500 shedding 39 points.
Trump, 78, doubled down on his aggressive posture while speaking with reporters in the Oval Office later Friday, insisting that he was “not looking for a deal.”
“I’m sure now the European Union wants to make a deal very badly, but they just, they don’t, they don’t do it right. They don’t go about it right,” he said.
A White House official confirmed Friday evening that Trump has grown frustrated with the Europeans, revealing that many of the conversations so far with the US “seem to be about discussing how to discuss this later.”
“The EU doesn’t want to come to the table in good faith. And the president isn’t just going to go along to get along,” said a second source close to the administration, citing the Euros’ “general posturing and demeanor” as major issues in the talks.
“I believe, the president believes, that the EU proposals have not been of the same quality that we have seen from our other important trading partners,” Treasury Secretary Scott Bessent told Fox News’ “America’s Newsroom” Friday morning, adding that in contrast to the Euros, Asian nations are “negotiating in good faith.”
“I would hope that this would light a fire under the EU,” added Bessent of Trump’s message. “Some of the feedback that I’ve been getting is that the underlying countries don’t even know what the EU is negotiating on their behalf.”
The 27-nation union primarily exports pharmaceuticals, machinery, cars and electric equipment to America, as well as agricultural products like wine, cheese, olive oil and fruits and vegetables.
EU trade chief Maros Sefcovic wrote on X Friday afternoon that a previously-scheduled call with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick had taken place, adding the the EU was “ready to work in good faith.
“EU-US trade is unmatched & must be guided by mutual respect, not threats,” added Sefcovic, of Slovakia. “We stand ready to defend our interests.”
Meanwhile, Martin Hojsik, the vice president of the European Parliament, fired back at the US president on social media.
“We can not give in to blackmail. #EU must stand united and be ready [to] respond fast in kind and proportion,” Hojsik — also of Slovakia — wrote on X. “It is very sad to see how [the] Trump administration is bent on destroying US as reliable partner to the rest of [the] free world.”
“The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump’s initial Truth Social announcement read.
“Their powerful Trade Barriers, Vat [sic] Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans [sic] Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere!”
Trump imposed a 90-day pause on his “Liberation Day” suite of tariffs April 9, leaving the door open for countries to negotiate with the US on an individual basis while still leaving a 10% rate on all countries except China.
The president has only negotiated a deal with the UK and a preliminary agreement with China during the grace period so far, although negotiations are ongoing.
Trump indicated last week that time was running out for countries to strike deals — adding that his administration could be rolling out new tariff rates soon.
The UK deal kept in place the 10% tariff on most imports from the US ally, along with a promise to open the British market to American agricultural goods.
The agreement was said to be a “template” for how future deals will look, with Trump’s economic team saying no country will be charged below the 10% rate.
The trade war with China — which saw US rates go as high as 145% — was temporarily resolved after talks held in Switzerland earlier this month, with the American levy going back down to 30% on Chinese goods.
