Trump Threatens to Impose Steep Tariffs on EU and Apple

New York Times
Trump Escalates Tariff Threats, Targeting Europe and Apple

The president wrote on Truth Social Friday morning that discussions with the European Union “are going nowhere” and that he is recommending a 50 percent tariff on European imports as of June 1. “The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Mr. Trump wrote. He claimed the bloc’s trade barriers, taxes, corporate penalties and other policies had contributed to a trade imbalance with the United States that was “totally unacceptable.” In an earlier social media post, the president also targeted Tim Cook, the chief executive of Apple, who visited Mr. Trump at the White House last week. The president wrote that iPhones sold in the United States should be “manufactured and built in the United States, not India, or anyplace else.”

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New York Times
AP NEWS
Trump threatens 50% tariffs on EU and 25% penalties on Apple as his trade war intensifies

President Donald Trump on Friday threatened a 50% tax on all imports from the European Union as well a 25% tariff on Apple products unless iPhones are made in America. The threats, delivered over social media, reflect Trump’s ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters. The Republican president said 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 30% this month so Washington and Beijing could hold negotiations. Trump was upset by the lack of progress in trade talks with the EU, which has proposed mutually cutting tariffs to zero even as the president has publicly insisted on preserving a baseline 10% tax on most imports.

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AP NEWS
New York Post
Trump warns Apple it could face 25% tariff if it doesn’t shift iPhone manufacturing to US

President Donald Trump on Friday threatened Apple with a 25% tariff for any iPhone sold but not made in the United States — putting new pressure on CEO Tim Cook to move manufacturing out of Asia. “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 in a Truth Social post. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the US. Thank you for your attention to this matter!” Apple shares plunged 4% in premarket trading.

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New York Post
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Stock Market Today: Dow, Nasdaq Drop After Trump Threatens ‘Straight 50% Tariff’ on EU — Live Update
Trump’s tariffs and the trade war continue to affect global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.
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Trump threatens 25% tariffs on iPhones and 50% levies against Europe, quickly tanking stocks
The president threatened new tariffs on iPhones made in India and a sweeping 50% levy on goods from the European Union. Trump reiterated his expectation that Apple (AAPL-0.39%) move iPhone production to the U.S. Apple had responded to that shift by accelerating shipments from India and fast-tracking local production.
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Trump threatens tariffs on Apple iPhones and EU products
US President Donald Trump has said he is "recommending" a 50% tariff on all goods from the European Union being imported to the United States. He also threatened to impose a 25% import tax on iPhones not manufactured in America. The announcement marks an escalation of Trump's trade war with the EU.
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Donald Trump Threatens Apple With 25% Tariff
President Donald Trump has threatened to impose a 25 percent tariff on Apple's iPhones if they are not made in the U.S. Apple currently relies on factories in India, Vietnam, and China for a significant portion of its production. Trump has imposed sweeping tariffs on trading partners in a bid to bring manufacturing jobs back to the United States.
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Trump Hammers the Markets with New Scorched Earth Trade War on Apple and Europe
Donald Trump reignites trade war with fresh threats to Apple and Europe. Dow plunges 400 points in early trading on Friday. Trump warns Apple will face a 25 percent tariff unless it moves iPhone production to the U.S. He also recommends a 50 percent tariff on the European Union starting June 1.
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Trump threatens 25% tariff on Apple unless iPhones are made in the US
Yale's Budget lab used US trade data to see which products we import the most that could be impacted. China, Mexico, Taiwan, and Vietnam are among the top countries we imported computer and electronic. Clothing is another category to watch with China, Vietnam, Bangladesh, and India. Much of the active pharmaceutical ingredients to make our drugs are imported.
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Trump says a 25% tariff ‘must be paid by Apple' on iPhones not made in the U.S.
Trump says Apple will have to pay a tariff of 25% or more for iPhones made outside the U.S. Shares of Apple fell more than 2% in premarket trading. Apple has been shifting manufacturing to India in part because that country has a friendlier trade relationship with the United States.
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Trump Threatens Apple With Tariff After Previously Exempting Tech Company
President Donald Trump urged Apple CEO Tim Cook to move both iPhone manufacturing and assembly operations to the U.S. in a Truth Social post Friday morning. Trump said that Cook has been aware of his expectations to relocate the tech giant’s operations. American multinational companies increased their innovation spending in China by an average of 13.6% per year between 2003 and 2017.
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Trump Threatens Apple With Tariff on iPhones if They're Not Made in the US
President Donald Trump said he will hit Apple with a 25% tariff for iPhones produced outside the U.S. The threat sent the tech giant’s stock down 3% as the markets opened on Friday. Apple CEO Tim Cook said in an earnings call that most iPhones sold in the current quarter will come from India.
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Global markets fall sharply as Trump threatens tariffs on EU and Apple sparking fears of fresh trade war
Donald Trump has threatened to put a 25% tariff on Apple products unless iPhones are manufactured in the US. The President said: “I am recommending a straight 50 per cent tariff on the European Union, starting on June 1” Trump also set his sights on Apple, threatening to slap the company with 25% tariffs on all products not built in the United States.
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‘Not looking for a deal’: Trump reignites tariff war with Apple, EU
Trump threatens 25 per cent tariff on all iPhones not made in the US. He also threatens 50 per cent tariffs on all EU goods sent to the U.S. The EU said it remained committed to securing an agreement. However, Trump said he was not ‘looking for a deal’
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How big European Union tariff could backfire on Trump, according to trade, freight experts
President Trump's threats to impose 50% tariffs on European Union goods are another example of what's becoming clear during the trade war. European imports to the U.S. are core to manufacturing and may run counter to the administration's overarching economic goal of making industrial reshoring feasible. "Trump's frustration reflects that underlying dynamic," said Josh Teitelbaum, senior counsel of Akin.
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