#TrumpTariffs
On May 23, 2025, President Donald Trump announced significant tariff measures, intensifying global trade tensions. He declared a 50% tariff on European Union (EU) goods, effective June 1, citing dissatisfaction with the pace of trade negotiations and existing EU trade barriers. Additionally, Trump threatened a 25% tariff on iPhones sold in the U.S., urging Apple and other manufacturers to relocate production to the United States. These announcements led to immediate market reactions, including declines in U.S. and European stock indexes, a weakening dollar, and rising gold prices
[1]. In response, California Attorney General Rob Bonta indicated potential legal action to protect state-based companies like Apple, emphasizing the economic significance of such firms to California
[2]. Trump's stance reflects his broader "Liberation Day" tariff strategy, aiming to correct perceived trade imbalances and encourage domestic manufacturing. These developments underscore the administration's aggressive trade policies and their far-reaching economic implications.
#BNB
