Peter Schiff Slams Trump's EU Tariff Delay As 'Fake Win' — Says It 'Still Leaves Americans Paying Higher Tariffs'

Economist Peter Schiff has sharply criticized Donald Trump‘s recent decision to postpone threatened 50% tariffs on European products, dismissing the move as a “fake win” that ultimately leaves American consumers footing a higher bill.

What Happened: In an X post, Schiff weighed in on Trump’s announcement that the impending tariff deadline for the European Union has been extended to July 9th.

“Trump has until that date to come up with another fake win,” Schiff stated, implying that any resolution short of eliminating tariffs would still burden American consumers.

Schiff’s immediate reaction underscores a long-standing critique of protectionist trade policies. He argues that while the 50% tariff threat has been temporarily averted, the underlying issue of Americans paying increased prices for European goods remains.

“Still leaves Americans paying higher tariffs, just not as high as the 50% threat,” he added, suggesting that any tariff, even a lower one, is detrimental to consumers.

The extension of the tariff deadline comes amidst ongoing trade tensions and negotiations between the United States and the European Union.

While the postponement may offer temporary relief to businesses bracing for the steep increase, Schiff’s commentary highlights the perspective that such maneuvers often serve as political optics rather than genuine economic benefits.