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Trump recommends 50% tariff on European Union starting June 1
- On May 24, 2025, President Donald Trump proposed implementing a 50% tariff on goods imported from the European Union, effective June 1, 2025.
- Trump issued this tariff threat following unsatisfactory trade negotiations with the EU, despite the EU's proposal to mutually cut tariffs to zero.
- Trump warned that Apple would face a 25% import tax on its products if iPhones sold in the U.S. Continue to be manufactured outside the country, as they currently are primarily in Asia.
- Bank analysts estimate that making an iPhone in America could raise its price from $1,500 to between $1,500 and $3,500, while markets reacted negatively to tariff announcements.
- The tariffs reflect Trump's goal to reduce America's trade deficits and influence global manufacturing, but critics see them as disruptive and unlikely to achieve desired trade or manufacturing results.
600 Articles
600 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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