US Edition
Trump Revives Trade War Despite Economic, Political Risks
- On May 24, 2025, President Donald Trump announced his intention to implement a steep 50 percent duty on goods imported from the European Union starting June 1, along with a 25 percent tariff on smartphones—including iPhones—that are manufactured outside the United States.
- Trump cited ongoing failed negotiations with the European Union, blaming trade barriers and corporate penalties for a trade imbalance that he deemed unacceptable.
- Trump warned Apple CEO Tim Cook that iPhones sold in the U.S. Must be made domestically or face tariffs, while Apple has been shifting some production from China to India amid rising costs and trade tensions.
- Economists estimate the EU tariffs would reduce exports to the U.S. By 20% short-term and raise U.S. Prices by over 6%, while Federal Reserve Bank President Austan Goolsbee called the tariffs "really scary for the supply chain."
- The tariff threats triggered stock market declines and renewed concerns about global economic instability, while EU officials affirmed their commitment to negotiate based on mutual respect, not threats.
20 Articles
20 Articles
Financial Times
WDC TV NewsDonald Trump makes risky bet by rekindling his trade war with the EU
US president has shifted the focus of his offensive from Beijing to Brussels
‘I’m not looking for a deal’: Trump revives global trade war
President Donald Trump’s moves Friday to reignite his global trade war laid bare the administration’s bubbling frustration with resistance from both corporations and foreign countries unwilling to rapidly bow to U.S. demands. After weeks of touting post-Liberation Day efforts to calm uneasy markets, Trump vowed to target the European Union with new 50 percent tariffs, declaring that he was no longer interested in reaching a trade deal following …
Malay Mail
AlKhaleej TodayTrump reignites EU trade war by threatening 50pc tariff, warns Apple and Samsung of 25pc duties if phones not made in US
WASHINGTON, May 24 — US President Donald Trump rekindled his trade war with the European Union yesterday by threatening 50 percent tariffs, as Brussels reacted with a call for “respect.” Trump also unleashed a broadside against smartphone makers including US tech giant Apple, threatening them with new duties of 25 percent if they do not move production to the United States. Stock markets fell as the Republican’s comments fuelled fears of global …
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