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Trump recommends 50% tariff on European Union starting June 1
- President Donald Trump announced via social media that starting June 1, 2025, a 50% tariff will be imposed on goods imported from the European Union.
- The tariff decision follows Trump's frustration with stalled trade talks and the EU's offer to cut tariffs to zero, which he rejected.
- Trump warned that Apple would face a tariff of at least 25% on iPhones sold in the U.S. If the devices are not manufactured domestically, intensifying pressure to shift the company's production back to America.
- Tim Cook revealed that most iPhones this quarter come from India, while analysts estimate that U.S.-made iPhones could cost $1,500 to $3,500 each.
- The tariffs heightened market volatility with indexes falling and claims that the tariffs have yet to yield promised trade deals or domestic manufacturing growth.
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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