In a dramatic move on Friday, President Trump indicated the possible revival of tariffs aimed at European imports, alongside a significant threat to Apple’s iPhone manufacturing. These remarks, made via social media, sent shockwaves through financial markets, reflecting concern over renewed trade tensions.
Trump Signals Renewed Tariff Battles, Affecting Apple and EU Trade
Trump Signals Renewed Tariff Battles, Affecting Apple and EU Trade
The U.S. President escalates tensions with the European Union and Apple through potential tariff increases, igniting market volatility.
On May 23, 2025, President Trump took to Truth Social to announce his intentions to impose a hefty 50 percent tariff on imports from the European Union, starting June 1. He expressed frustration over the stagnation of trade discussions, claiming that the EU was built to exploit American trade practices. "The European Union ... has been very difficult to deal with," Trump stated, alleging unfair trade barriers and penalties exacerbating the U.S. trade deficit.
In his posts, Trump also called out Apple CEO Tim Cook, stressing that iPhones sold in the U.S. should originate from American factories rather than other countries like India. Trump warned of a 25 percent tariff on these smartphones if manufacturing wasn't relocated back to the U.S.
These announcements rattled investors, with stock futures plummeting in reaction to the perceived resurgence of Trump's aggressive trade strategies. This rhetoric comes after a relatively calm period in trade relations, following a series of chaotic tariff announcements in the earlier months of his presidency. As Trump turns his focus toward upcoming international engagements and legislative priorities, this latest threat introduces an element of uncertainty into global trade dynamics.
In his posts, Trump also called out Apple CEO Tim Cook, stressing that iPhones sold in the U.S. should originate from American factories rather than other countries like India. Trump warned of a 25 percent tariff on these smartphones if manufacturing wasn't relocated back to the U.S.
These announcements rattled investors, with stock futures plummeting in reaction to the perceived resurgence of Trump's aggressive trade strategies. This rhetoric comes after a relatively calm period in trade relations, following a series of chaotic tariff announcements in the earlier months of his presidency. As Trump turns his focus toward upcoming international engagements and legislative priorities, this latest threat introduces an element of uncertainty into global trade dynamics.
