Trump Threatens Tariffs on EU and Apple, Rekindling Global Trade Fears
U.S. President Donald Trump reignited trade tensions on Friday by threatening a fresh wave of tariffs, targeting both the European Union and tech giant Apple. He announced plans to impose a 25% tariff on all imported iPhones sold in the United States, a move that would also affect Samsung and other foreign smartphone manufacturers. Additionally, Trump proposed a 50% tariff on EU goods, set to begin on June 1, citing stalled negotiations with the bloc.
These aggressive trade threats, issued via social media, rattled financial markets that had been enjoying a period of calm after earlier signs of de-escalation. U.S. and European stock indexes fell sharply, the dollar weakened, and gold prices rose as investors sought safe-haven assets. Yields on U.S. Treasury bonds also declined amid growing concerns about the impact of new tariffs on global economic growth.
Trump made it clear he is not seeking a trade deal with the European Union at this time, accusing the EU of unfair treatment, particularly in restricting U.S. car exports. “It’s time we play the game the way I know how to play it,” he said during a briefing in the Oval Office.
The president’s warning to Apple marks his latest effort to pressure major companies to shift production to the United States. Despite Apple’s recent investment announcements in the U.S., they notably exclude iPhone manufacturing. The U.S. currently lacks the infrastructure to mass-produce smartphones, and moving production domestically could drive up iPhone prices by several hundred dollars.
Trump confirmed that the smartphone tariff would apply broadly, stating, “Samsung and anybody that makes that product” would be subject to the new tax. He expects the tariff to take effect by the end of June.
This development marks a return to Trump’s unpredictable trade tactics, which have previously disrupted markets and raised fears of a global economic slowdown.In the end he remarked:
And I just said, ‘It’s time that we play the game the way I know how to play the game.’Donald J. trump
