The hashtag *#TrumpTariffs* has once again become a central theme in economic news since President Donald Trump announced new threats of tariffs on May 23, 2025. These measures primarily target the European Union (EU) and tech giant Apple, sparking concerns in global markets and among American consumers.
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📢 Trump's new tariff announcements
- *50% tariffs on EU imports*: Trump has threatened to impose 50% tariffs on all imports from the EU from June 1, 2025, citing unfair trade practices and stalled negotiations [1].
- *25% tariffs on iPhones*: He also threatened to impose a 25% tax on iPhones made outside the US, aimed at incentivizing Apple to relocate its production [2].
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📉 Market reactions and economic impacts
- *European markets fall*: European stock indices fell sharply, with the Stoxx 600 losing 1.23%, and significant declines were observed on the German, French and Italian markets [3].
- *Impact on Apple Stock*: Apple's stock lost about $70 billion in value following the tariff announcement [4].
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🏠 Consequences for American consumers
- *Increased costs for households*: Tariffs could lead to an average cost increase of $1,190 per U.S. household in 2025 [5].
- *Reduction in GDP and wages*: Projections indicate a long-term reduction in GDP of about 6 for an average household [6].
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🇪🇺 Reactions from the European Union
The EU has expressed shock at the tariff threats, especially after recent discussions at the G7 summit that were deemed positive. Retaliation, including tariffs on US products, is being considered from July 14 [1].
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🗳️ Political repercussions
A recent poll found that 63% of Americans disapprove of Trump's handling of tariff policies, reflecting growing concern about the impact of these measures on the national economy [7].
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In summary, Trump's new tariff threats have reignited international trade tensions, caused turmoil in financial markets, and raised concerns about their impact on the US and global economies.