Poland's Trade Minister Michal Baranowski played down on Friday (May 23) the threat of the United States imposing 50% tariffs on European goods from June 1 as part of ongoing negotiations, underlining there was time for EU-U.S. talks until early July.

Earlier on Friday, President Donald Trump said he was recommending a straight 50% tariff on goods from the European Union starting on June 1, because trade negotiations with the EU were "going nowhere".

"The European Union and the United States are negotiating. Some negotiate behind closed doors, others more in front of cameras," Baranowski, whose country holds the rotating presidency of the 27-nation European Union, told reporters.

Trump cranked up his trade threats on Friday, targeting both smartphone giant Apple along with imports from the entire European Union, sending the global market roiling after weeks of de-escalation provided some reprieve.

Trump said he would recommend a 50% tariff on the European Union which would result in stiff levies on luxury items, pharmaceuticals and other goods produced by European manufacturers.

Markets dropped on the news. S&P 500 futures lost 1.5% in premarket activity and the Eurostoxx 600 fell 2%.

DESCRIPCIÓN DE IMÁGENES

BRUSSELS, BELGIUM (MAY 23, 2025) (EUROPEAN UNION - Access all)

1. VARIOUS OF EUROPEAN UNION FLAGS OUTSIDE BUILDING

2. (SOUNDBITE) (Polish) POLAND'S TRADE MINISTER, MICHAL BARANOWSKI, SAYING:

"The European Union and the United States are negotiating. Some negotiate behind closed doors, others more in front of cameras. As you know very well, the Commission plays the main negotiator role which, I can confirm, is fully supported in its efforts by all the member states. The fact that we see some important statements in the public domain does not mean that they will translate into actions of the U.S. administration."

3. POSTER OF POLISH EU PRESIDENCY ON BUILDING

4. (SOUNDBITE) (Polish) POLAND'S TRADE MINISTER, MICHAL BARANOWSKI, SAYING:

"So far we have a clear signal, also at the political level, that the United States and the European Union have decided to hold back with reciprocal tariffs. We have time until early July to conduct negotiations and according to my best knowledge these negotiations are moving forward. (EU) Trade Commissioner (Maros) Sefcovic will see U.S. chief negotiator (Jamieson) Greer at the beginning of June in Paris which will be another opportunity to discuss concrete steps, rather than talk in such generalities."

5. EUROPEAN UNION FLAGS WAVING