Trump threatens 50% tariffs on EU and 25% penalties on Apple as his trade war intensifies

WASHINGTON AP President Donald Trump on Friday threatened a tax on all imports from the European Union as well a tariff on Apple products unless iPhones are made in America The threats delivered over social media reflect Trump s ability to disrupt the global market system with a burst of typing as well as the reality that his tariffs are not producing the sufficient agreement deals he is seeking or the return of domestic manufacturing he has promised voters The Republican president announced he wants to charge higher import taxes on goods from the EU a long-standing US ally than from China a geopolitical rival that had its tariffs cut to this month so Washington and Beijing could hold negotiations Trump was upset by the lack of progress in arrangement talks with the EU which has insisted on cutting tariffs to zero even as the president has publicly insisted on preserving a baseline tax on preponderance imports Our discussions with them are going nowhere Trump posted on Truth Social Therefore I am recommending a straight Tariff on the European Union starting on June There is no Tariff if the product is built or manufactured in the United States That post had been preceded by a threat of import taxes against Apple Apple now joins Amazon Walmart and other major U S companies in the White House s crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by his tariffs 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 wrote If that is not the scenario a Tariff of at least must be paid by Apple to the U S In response to Trump s tariffs on China Apple and CEO Tim Cook were looking to shift iPhone manufacturing to India as the company adjusts supply chains That plan has become a source of frustration for Trump who also brought it up last week during his Middle East trip Stock futures sold off after Trump s postings