Trump threatens European Union and Apple with tariffs

US President Donald Trump, citing difficulties in trade negotiations, announced plans to impose a 50 percent customs tariff on goods imported from the European Union starting June 1. In a statement on the social media platform Social Truth, Trump stated that the EU has put the US at a disadvantage in trade and that this situation is unacceptable. "Our negotiations with the European Union are going nowhere. Therefore, I am proposing a 50 percent direct tariff on the European Union effective June 1, 2025," Trump said.

The European Union had previously submitted proposals to the US regarding the reduction of customs tariffs and strategic cooperation. However, in the event that negotiations fail, it plans to impose additional tariffs on 95 billion euros worth of US exports.

Trump's statements also had an impact on financial markets. On Friday morning, S&P 500 index futures fell by 1.1 percent, and Nasdaq 100 futures dropped by 1.3 percent.

TARIFF THREAT AGAINST APPLE

Trump also issued a similar threat against Apple. He stated that if iPhones are not manufactured in the US, a customs tariff of at least 25 percent could be imposed on Apple. "A long time ago, I informed Tim Cook of Apple that I expect their iPhones to be manufactured and sold in the US, not in India or anywhere else," he said.

Following this statement, US stock futures declined, while the Nasdaq 100 index fell to its lowest levels. Apple shares lost 4 percent of their value.

Apple manufactures the majority of its iPhones in China and does not produce them in the US. The company had previously committed to employing more workers in the US and spending billions of dollars over the next four years.

News Source: 12punto