The tariff crisis Trump's tariff policy

Trump rejects EU proposal: "Behaved badly towards us"

The EU proposal from February for zero tariffs on American industrial goods is rejected by President Donald Trump. This concerns, among other things, zero tariffs on cars.

- The European Union has behaved very, very badly towards us, he says, according to AFP.

The EU's proposal is not enough to address the transatlantic trade deficit, says Trump and claims completely incorrectly that the EU "really doesn't take anything" in imports from the US.

- The EU is always ready to make a good deal but we are also ready to respond with countermeasures and defend our interests, said European Commission President Ursula von der Leyen on Monday

Last week, Trump announced sweeping tariffs against virtually all countries in the world, including heavy import duties on the EU of 20 percent.

Sources: Musk appealed to Trump to lift tariffs

Elon Musk, who is the world's richest person and one of Donald Trump's advisors, tried until the last moment to personally get the president to lift the tariffs. The Washington Post writes, citing two sources with insight.

The attempt at persuasion was in vain. Instead, Elon Musk shared posts on X that praised international cooperation, including by highlighting Nobel Prize-winning free trade advocate Milton Friedman. He also attacked Trump's trade advisor Peter Navarro, writing:

"A PhD in economics from Harvard is a bad thing, not a good thing."

The Washington Post believes that this weekend's incident is "the most high-profile disagreement" between Donald Trump and Elon Musk.

Representative: Trump clear – no exemptions from tariffs

The Trump administration's negotiations with about 50 countries have already yielded results, US Trade Representative Jamieson Greer said before the US Senate Finance Committee on Tuesday, according to Reuters.

According to him, several countries have said they will not impose retaliatory tariffs, while some "have already lowered their tariffs".

At the same time, he says that Trump has been clear that no exemptions from the tariffs will be introduced in the near future.

Regarding China, he says that the country is showing no interest in approaching a solution. Earlier today, Trump wrote that China wants to reach an agreement.

Going forward, he is signaling that the higher tariffs will take effect tomorrow in accordance with Trump's message from last Wednesday.

Greer also says that they are trying to work as quickly as possible with the negotiations but that there is no timetable.

Wall Street is losing momentum after Greer's comments.