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Trump threatens 50% tariffs on EU and 25% on iPhones if not made in the US

Trump threatens 50% tariffs on EU and 25% on iPhones if not made in the US

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US President Trump threatened to impose a 25% tariff on Apple iPhones if they are not manufactured in the United States, which led to a 2.5% drop in Apple shares in premarket trading. Trump also threatened to impose a 50% tariff on all EU imports starting June 1, citing that the EU is taking advantage of the US on trade.

Donald Trump
Republican Party
1. If that is not the case, a Tariff of at least 25 per cent must be paid by Apple to the US.
2. The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with.
3. I had a little problem with Tim Cook.
4. Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable.
5. I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the US.
6. I said to Tim … we've treated you really good, we've put up with all the plants that you've built in China for years, now you got to build [for] us. We're not interested in you building in India, India can take care of themselves … we want you to build here.
7. Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States.
Hakan Samuelsson
Volvo
1. It could not be in the interest of Europe or the US to shut down trade between them.
Holger Schmieding
Berenberg bank
1. With Trump you never know but this would be a major escalation. The EU would have to react and it is something that would really hurt the US and European economy.
2. This is a major escalation of trade tensions.
Claudia Schmucker
German Council on Foreign Relations
1. Trump is still expecting that the EU will offer something he feels is valuable enough.
2. Even though some EU states are not fully on board with Brussels' negotiating position, Trump's antagonism is enough to help boost EU unity.
Andrew Kenningham
Capital Economics
1. The two new deals will make EU negotiators more confident that they can stick broadly to the policy already set out, which is to try to avoid escalation, threaten some retaliation but with a delay, while at the same time be willing to negotiate.
Miguel Otero
1. The EU has a big deficit when it comes to services, especially financial and digital services and entertainment platforms.
2. The US cannot afford to lose the European market. If we act as a single entity, then the EU has as much leverage as China.

Trump's tariffs

sources

perspectives

countries

organizations

persons

technicals

1.iPhone
2.EX30
3.International Emergency Economic Powers Act
4.iPad
5.World War II