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Trump proposes steep tariffs on the European Union and Apple products
US President Donald Trump has unveiled plans to significantly increase tariffs on imports from the European Union and on products from tech giant Apple.
In a post on Truth Social, Trump announced a recommendation for a 50% tariff on goods from the EU, set to take effect on June 1. He expressed dissatisfaction with the ongoing trade negotiations, labeling them unproductive, and claimed that the EU was "formed for the primary purpose of taking advantage of the United States on trade."
Should these tariffs be enacted, the import duties on EU products would surge from the current 10% to an unprecedented 50%. This move could impact a vast array of goods and strain relations with America's foremost trading partner.
In addition to targeting the EU, Trump has specifically called out Apple, accusing the company of disregarding his requests to relocate iPhone production to the United States. He threatened a new 25% tariff on Apple products if the company fails to initiate domestic production.
Recently, Trump has rolled out new tariffs on goods from several countries, including the EU. Although he briefly paused some of these measures to facilitate negotiations, discussions with the EU have not yielded significant progress. In response, the EU has warned of potential tariffs on nearly 100 billion euros (approximately $113 billion) worth of US goods.
An EU spokesperson declined to comment on Trump's recent threats but confirmed that EU Trade Commissioner Maros Sefcovic would engage with US Trade Representative Jamieson Greer later in the day.
Trump's insistence on Apple manufacturing its iPhones in the US has drawn considerable criticism. Presently, Apple assembles the majority of its iPhones in China and is gradually moving some operations to India. Experts suggest that relocating production to the US is not feasible.
Analyst Dan Ives of Wedbush Securities estimates that a US-made iPhone could cost as much as $3,500, with labor costs alone expected to increase the price by approximately 25%. When factoring in tariffs for imported components, the overall cost could escalate by more than 90%.
