President Trump on Friday declared an end to his patience with European Union trade negotiators, announcing a steep 50% tariff on EU imports, effective June 1. “It’s time that we play the game the way I know how to play the game,” Trump stated, marking the latest abrupt shift in his administration’s tariff strategy. This sudden announcement, made via social media, immediately sent ripples through stock markets and affected the U.S. dollar.
In a separate, equally impactful declaration, the President warned of at least a 25% tariff on imported iPhones, effective by late June. He directly cited a warning to Apple CEO Tim Cook to relocate manufacturing to the U.S., expressing frustration over Apple’s plans to build plants in India. Trump ominously suggested similar tariffs could extend to other smartphone manufacturers like Samsung, reinforcing his “America First” trade stance.
This aggressive move comes after a period of eased tariff threats in early April, when market turmoil and recession warnings prompted a 90-day pause. Despite Treasury Secretary Scott Bessent’s hopes that the threat would “light a fire” under EU negotiators, Trump later indicated he was “not looking for a deal” by the June 1 deadline, emphasizing his preference for direct tariff imposition rather than negotiated agreements.
Trump Unleashes 50% Tariff Threat on EU, Targets iPhones Amid Trade Impatience
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Picture credit: www.heute.at
