U.S. President Donald Trump on Friday threatened to impose a 50% tariff on imports from the European Union, accusing the 27-member trading bloc of stalling trade talks.
Lamenting that negotiations with the EU "are going nowhere," Trump said on Truth Social he is recommending "a straight 50% Tariff on the European Union, starting on June 1, 2025." Stock futures on Wall Street fell on the news.
If the new duties come into effect, they would dramatically hike the current U.S. baseline 10% levy against goods coming from the EU, and ratchet up the economic tensions between the world's biggest economy and its largest trading bloc.
Last month, Trump imposed sweeping tariffs against most countries, introducing steep duties for several trading partners — including the EU — and sector-specific measures against automobiles, steel and aluminum not produced in the United States.
Markets tanked following the announcement, and a few days later, the U.S. president announced a 90-day pause on levies for most countries to allow for negotiations, while keeping that lower 10% baseline in place.
The talks between the United States and the EU have not gone as smoothly as with other partners, with the EU recently threatening to hit U.S. goods worth nearly €100 billion ($113 billion) with tariffs if the ongoing talks fail to lower levies on European goods.
In his early morning social media post on Friday, Trump said the EU had been "formed for the primary purpose of taking advantage of the United States on TRADE," and took a swipe at the "difficult" negotiations taking place.
Also Friday, Trump threatened Apple with a tariff of at least 25% if the tech company does not manufacture iPhones in the U.S.
"I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump said in a post on Truth Social. "If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter!”
The tech giant has become a frequent Trump target in his push to force companies to bring more manufacturing jobs to the U.S.
Apple makes most of its iPhones in China and has no smartphone production in the U.S. The company has promised to hire more workers in the U.S. and pledged to spend billions domestically over the next four years. The supply chain for Apple’s popular phones has been concentrated in China for years.
Trump earlier this month also raised pressure on Apple, saying he had asked Cook, the company's CEO, to stop building plants in India — part of an effort to shift production from China — and instead focus on the U.S.
Apple did not immediately respond to a request for comment on Trump’s threat.
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