Trump threatens the Ecu Union with 50% tariff, iPhone producer with 25%
US President Donald Trump on Friday crank his trade threats, with the import of the entire European Union, as well as the smartphone legended Apple, sent to the global market’s crying after the weeks of D-Suscification.
Trump threatened to impose 25 percent tariff on Apple for any iPhone sold in the United States, but not manufactured. More than 60 million phones are sold annually in the United States, but there is no smartphone construction in the country.
He also said that he would recommend 50 percent tariff on the European Union starting from June 1, resulting in rigorous Levies on luxury goods, pharmaceuticals and other items produced by European manufacturers.
The European Union Commission refused to comment, stating that it would wait for a phone call between the European Union’s trade head Maros Sefkovic and his American counterpart Jaimison Greer, which happened later on Friday.
The markets fell on the news. The S&P 500 futures lost 1.5 per cent in pre-market activity and the Eurostoxx 600 fell two percent. Apple’s shares fell by 3.5 percent in pre-market trading along with shares of other technology Belvethers. Trump did not give Apple a time limit for his warning.
Trump said in a post on Satya Social, “I had informed Apple’s Tim Cook long ago that I hope his iPhones sold in the United States would be constructed and built and it would be built in the United States, not India, or at any place.” “If it is not, then at least 25 percent tariff should be paid to America by Apple”
If you can tariff the same company if Trump can tariff
White House has been in talks with many countries on business issues, but progress has been unstable.
In April, Trump’s aggressive tariff, which would have increased the rate to consumers and businesses would have to pay about 25 percent for imported goods, which led to a sale in American assets including stock, dollars and treasury bonds. The markets have since rebounded.
It is not clear whether Trump can carry tariffs on an individual company. Apple did not immediately respond to the request of a Reuters for comments.
In early April, Trump’s Levy on China after an increase of more than 100 percent, the White House returned due to the upheaval of the market, excluding the tariffs on the smartphone and some other electronics were largely imported from China, which rely on imported products.
Apple has allegedly targeted to create most of its iPhones sold in factories in India by the end of 2026, and is intensifying those plans to navigate high tariffs potentially high tariffs in China, its main manufacturing basis.
Apple is creating India’s position as an alternative manufacturing base between Trump’s tariff on China, which has increased the possibility of supplies and high iPhone prices.
The iPhone manufacturer said that most of its smartphones sold in the United States will generate from India in the June quarter.
