Trump Threatens 50% Tariff on EU Imports, Pressures Apple on U.S. Manufacturing
President Donald Trump announced plans to impose a 50% tariff on all European Union imports starting June 1, citing the EU’s trade barriers and a $250 billion annual trade deficit with the U.S.
He also threatened a 25% tariff on iPhones not manufactured in the U.S., pressuring Apple to shift production domestically.
These announcements unsettled global markets, with U.S. and European stocks declining and investors seeking safer assets like gold and Treasury bonds.
The EU has yet to respond officially, but the move signals escalating trade tensions between the U.S. and its key trading partners.
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