Trump recommends 50% tariff on European Union starting June 1
- President Donald Trump, a Republican, proposed implementing a 50% tariff on goods imported from the European Union beginning June 1, 2025.
- Trump grew frustrated with stalled trade negotiations with the EU, whose members proposed mutually cutting tariffs to zero, while Trump insisted on keeping a 10% baseline tariff.
- Alongside imposing tariffs on European goods, Trump warned that Apple would face a 25% import tax on its products if iPhones sold in the U.S. Are not manufactured domestically, putting pressure on Apple's extensive Asian supply network.
- Apple pledged $500 billion for domestic investment and AI development, but CEO Tim Cook acknowledged most iPhones sold in the U.S. Currently come from India, while analysts doubt a quick manufacture shift is feasible.
- The tariff threats unsettled financial markets, sparked criticism from EU officials calling the strategy a failure, and underscored Trump's tactic of using high-stakes threats to force trade agreements.
610 Articles
610 Articles
Trump ‘not looking for a deal’ to avert 50 percent EU tariffs
President Trump is “not looking for a deal” with the European Union after vowing to impose 50 percent tariffs on goods from the bloc, he told reporters at the White House after Treasury Secretary Scott Bessent said the threat stemmed from EU officials’ failure to negotiate “in good faith.” “I'm not looking for a deal. I mean, we've set the deal. It's at 50 percent,” Trump said in response to a reporter’s question during a May 23 Oval Office even…
Apple becomes Trump's latest target in trade war, threatens 25% on iPhones
President Trump threatened Apple CEO Tim Cook with a 25% tariff on iPhones unless the company makes them in the U.S. He also threatened to impose a 50% tariff on the European Union. NBC News' Christine Romans joins Katy Tur to report the latest on the trade war.
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