🇺🇸 Trump Announces 50% Tariff on EU Imports and 25% on iPhones Made Outside the U.S.
📅 Date: May 23, 2025
President Donald Trump has announced a 50% tariff on all imports from the European Union, effective June 1, 2025. Additionally, he threatened a 25% tariff on iPhones unless Apple manufactures them within the United States.
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🗣️ What Did Trump Say?
In a post on Truth Social, Trump stated that trade negotiations with the EU are “going nowhere,” accusing the bloc of being “very difficult” and claiming that the EU was created “to take advantage of the U.S. in trade.”
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📉 Market Reaction
• The S&P 500 and Nasdaq dropped more than 1%.
• Apple stock fell by 2.6% after the tariff threat.
• Investors moved to safe-haven assets like gold, the Swiss franc, and the Japanese yen.
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🌍 Geopolitical Impact
• The EU is preparing retaliation, possibly totaling $108 billion in countermeasures.
• The United Kingdom, no longer part of the EU, may benefit from the tariffs not applying to it.
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📱 Impact on Apple
Trump called on Apple to move iPhone production to the U.S., despite the company having already invested over $500 billion domestically and planning to hire 20,000 U.S. workers. Analysts say U.S.-based iPhone production could cost up to $3,500 per unit.
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🧠 Conclusion
These new tariffs could significantly impact global trade and major tech companies. Investors and analysts are closely watching for EU responses and broader economic effects.
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