US President Donald Trump has threatened the European Union with more than double the current tariffs if it fails to deliver on promised investments. Trump told CNBC on Tuesday that if the EU does not invest the pledged $600 billion (about €520 billion) in the United States, he will impose tariffs of 35%.
On Thursday, 15% tariffs on most EU products, including cars, are set to take effect.Trump described the $600 billion commitment as a “gift” from the EU. “I can do whatever I want with it,” he claimed. “They have taken advantage of us for so many years, it’s time they pay,” he added.
European Commission President Ursula von der Leyen had reached a preliminary agreement with Trump in late July during a meeting in Scotland to ease trade tensions. However, questions remain over how the EU can compel private companies to invest the desired amount in the US.
As part of the framework deal, Europeans are also set to purchase $750 billion (€650 billion) worth of US energy, almost twice the EU’s total annual energy imports from various countries, valued at €375.9 billion in 2024, according to Eurostat.
Experts doubt the US could even export such large volumes of energy, while some US media commentators believe Trump’s figures primarily serve his self-promotion.
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