Trump Threatens 50% Tariff on EU Goods, 25% on Non-US Made iPhones
On Friday, U.S. President Donald Trump posted on social media stating that trade negotiations with the European Union were “going nowhere.” As a result, he proposed a 50% tariff on all goods imported from the EU starting June 1, 2025. He also threatened to impose at least a 25% tariff on iPhones not manufactured in the United States, demanding that Apple relocate its production back to the U.S.
“I have long told Apple CEO Tim Cook that iPhones sold in the United States should be made in the U.S., not in India or elsewhere,” Trump said. “Otherwise, Apple must pay at least a 25% tariff.”
Summary:
- Trump says EU trade talks are stalled and proposes a blanket 50% tariff.
- Demands Apple move iPhone production to the U.S., or face 25% tariffs.
- Analysts suggest no executive order exists yet; this may be a negotiation tactic.
- The EU has not yet responded; experts predict they will remain calm.
- Markets reacted negatively: S&P 500 and Germany’s DAX fell, Apple dropped over 2%.
- Trump accuses the EU of being founded to “take advantage” of the U.S.
- Volvo warns tariffs would significantly increase costs for consumers.
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