Trump says giving EU until July 4 to fulfill trade deal or will raise tariffs
Source: Reuters
May 7, 2026 3:14 PM EDT Updated 52 mins ago
WASHINGTON, May 7 (Reuters) - U.S. President Donald Trump said he had a "great call" with European Commission President Ursula von der Leyen on Thursday and would give the EU until July 4 to fulfill its side of the trade deal before hiking U.S. tariffs to much higher levels.
"Ive been waiting patiently for the EU to fulfill their side of the Historic Trade Deal we agreed in Turnberry, Scotland, the largest Trade Deal, ever!" Trump said in a post on Truth Social.
"A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO! I agreed to give her until our Countrys 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels."
Trump on Friday had threatened to increase tariffs on EU cars and trucks to 25% this week, from 15% currently, because the EU was not complying with the terms of a deal struck in Scotland last July.
Read more: https://www.reuters.com/world/trump-says-giving-eu-until-july-4-fulfill-trade-deal-or-will-raise-tariffs-2026-05-07/
Lovie777
(23,537 posts)Scrivener7
(60,021 posts)the nelm
(287 posts)Scrivener7
(60,021 posts)Justice matters.
(10,012 posts)travelingthrulife
(5,496 posts)Gotta keep the grift rolling along.
displacedvermoter
(4,921 posts)Justice matters.
(10,012 posts)Call them Republicrooks.
Norrrm
(5,448 posts)Trump charges/changes tariffs capriciously, most often with revenge/coercion, not based on economics.
He calls these ever-increasing taxes on Americans - "revenue".
underpants
(197,033 posts)German Chancellor Merz makes one statement pointing out that Trump has completely screwing up with the Iran mess and *poof* Trump punishes him m withdrawing 5,000 troops.
popsdenver
(2,535 posts)are much like.............If you put basketfuls of hand grenades in a room, with a bunch of monkeys, and locked the door.......
the nelm
(287 posts)quakerboy
(14,904 posts)Attilatheblond
(9,173 posts)Thinking he's more of a rabid bat these days
Skittles
(172,598 posts)so tiresome
dave99
(202 posts)So much for raising non-existent tariffs.
Permanut
(8,534 posts)And he promises he will not do it again.
Buddyzbuddy
(2,820 posts)underpants
(197,033 posts)In a 6-3 ruling on February 20, 2026, the U.S. Supreme Court struck down many of Donald Trump's trade tariffs, holding that the 1977 International Emergency Economic Powers Act (IEEPA) did not authorize the president to impose tariffs. The Court ruled this was executive overreach, stating that the constitutional power to regulate commerce lies with Congress.
Administration Response: Following the ruling, the administration pivoted to alternate legal justifications, including imposing new tariffs under Section 122 of the Trade Act of 1974.
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Section 122 of the Trade Act of 1974 empowers the U.S. President to impose temporary, 150-day import restrictionssuch as up to 15% tariffs or quotasto address urgent balance-of-payments deficits, severe dollar depreciation, or international payments instability. Recently, it was invoked in February 2026 to apply 10% tariffs, following judicial limitations on alternative trade authorities.
Even the Cato Institute calls BS on Rule 122 saying its an anachronism
APRIL 14, 2026 1:57PM
Section 122 Is an Anachronism, Not a License for New Tariffs
The administrations latest tariff move does not just rest on bad policy. It rests on a concept that no longer fits the world we live in. That is why I joined the economists amicus brief challenging the administrations use of Section 122 in the US Court of International Trade, which can be found here. The core problem is simple: Section 122 was written for a monetary order that has passed. The administration is trying to revive it as if nothing important has changed in the international monetary system since the early 1970s.
https://www.cato.org/blog/section-122-anachronism-not-license-new-tariffs
BumRushDaShow
(171,702 posts)underpants
(197,033 posts)BumRushDaShow
(171,702 posts)(need the cushions for achy joints
moonshinegnomie
(4,058 posts)good luck with that
Baitball Blogger
(52,663 posts)Tariff's are not legal. His own Supreme Court said so.
BigmanPigman
(55,466 posts)I hate this ass with a passion!
AllaN01Bear
(29,751 posts)Justice matters.
(10,012 posts)Only himself.
SirReal69
(17 posts)how he can raise tariffs when all of his tariffs have been found illegal.
Attilatheblond
(9,173 posts)RockRaven
(19,694 posts)and is in denial of the fact that they are doomed/already dead.