Trump's Trade Offensive: New Tariff Threats on EU and Apple
President Donald Trump has threatened increased tariffs on EU imports and Apple products if not manufactured in the U.S. His social media announcements aim to bolster domestic manufacturing but are unsettling global trade. The EU resists, maintaining zero tariffs while Apple navigates supply chain shifts.
- Country:
- United States
President Donald Trump has launched a fresh trade offensive, threatening to impose a 50% tax on imports from the European Union and a 25% tariff on Apple products unless iPhones are manufactured in the United States. The announcement, made via social media, underscores Trump's impact on the global economic landscape.
The president expressed his disappointment with the progress of trade negotiations with the EU, which insists on zero tariffs, in contrast to Trump's demand for a minimum 10% tax on most imports. His frustrations have led to the proposed drastic tariff measures, particularly targeting EU goods and Apple, a major U.S. corporation.
Trump has reiterated his expectation that Apple shifts its iPhone production to the U.S., threatening a severe tariff if the company continues its plans to manufacture in India. This declaration comes amidst broader U.S.-China trade tensions and has led to a drop in stock futures, reflecting market instability.
(With inputs from agencies.)
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