US President Donald Trump announced on Friday that he was recommending a 50% tariff on goods from the European Union citing a deadlock in a trade talks.
He wrote on social media, “Our discussion is not going anywhere! Therefore, I am directly recommending 50% tariff on the European Union starting from June 1, 2025.”
In a post on Truth Social, Trump criticized the European Union, saying that the block, which happened for the primary purple to take advantage of the United States, has been made separately with Ser. “
He is therefore complained about the European Union’s “powerful trade obstacles, VAT taxes, ridiculous corporate punishments, non-monetary trade obstacles, monetary manipulation, inappropriate and unjust and unfair cases against American companies.”
At the end of the post, Trump reminded the reader that the products made in the US are not subject to taffs.
How did the European Union react to Trump’s tariff threat?
The European Union Commission refused to comment on Trump’s post, stating that it would wait for a phone call between the European Union’s trade chief Maros Sefkovic and his American counterpart Jamisson Greer to be at 1500 GMT for a phone call.
Megil, the euro collapsed, reversed the earlier profit, which had bewaved after the danger of the previous Trump tariff, investors are apprehensive about the impact of duties on world economy and trade.
European markets collapsed soon after Trump’s posts. Germany’s DAX, a stock market index, made up of the 40 largest German blue-chip companies, trading on the Frankfurt Stock Exchange, quickly to a loss of 1.9%, while corresponding to the French benchmark, CAC 40, fell 2.4%.
FTSE 100, the most famous stock market index of the United Kingdom includes 100 most capitalized blue-chip companies listed on the London Stock Exchange, falling 1.1%.
American markets experienced a decline. The futures for S&P 500 and Dow Jones Industrial Average were 1.5% and Nasdaq Futures tumbled the 1.7% beld. Oil prices fell and treasury yield also drowned.
Trump threatens apple with 25% taifs on iPhones
Earlier in the day, before suggesting 50% of Taifs on European Union imports, Trump had threatened Apple with 25% tariff on iPhones, but not built in the United States.
“I have informed Apple’s Tim Cook long ago that I expect his iPhone [sic] It will be sold in the United States, built and built in the United States, not in India, or anywhere, “Trump wrote on the truth social.
“If this is not the case, a taf of at least 25% should be paid to America by Apple,” he said.
Trump has long stressed that apple manufactures are iPhones in the US. However, experts argue that it will request important investment and will significantly increase the cost of the smartphone.
While Apple produces iPhones mainly in China, it is produced in India in recent years.
Edited by: Alex Berry
