Trump's Tariff Threat: The iPhone Dilemma
President Trump has threatened to impose a 25% tariff on all iPhones not manufactured in the U.S., affecting Apple and Samsung. The move unsettled global markets, weakened the dollar, and increased gold prices. This is part of a larger 50% tariff threat on EU goods due to stagnant trade negotiations.
In a new twist to the ongoing trade war, U.S. President Donald Trump issued a warning to tech giants Apple and Samsung on Friday, threatening a 25% tariff on all smartphones not manufactured in the United States.
The announcement, along with a proposed 50% tariff on European Union goods starting June 1, rattled global markets, causing U.S. and European stocks to drop, weakening the dollar, and driving up gold prices. The trade tensions come as negotiations with the EU remain stalled, according to White House sources.
This strategy to pressure companies to relocate production to the U.S. draws familiar criticism as the nation lacks smartphone manufacturing infrastructure. Trump's actions are part of broader trade disputes that threaten to exacerbate the global economic climate.
(With inputs from agencies.)
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