Trump Threatens to Impose 50% Tariff, EU: Will Discuss Trade Issues in Call

After Trump threatened on May 23 local time to impose a 50% tariff on the EU and a 25% tariff on Apple Inc., Apple’s stock price, U.S. stock index futures, and the euro fell, raising concerns among investors about the impact of tariffs on the global economy and trade. The European Commission stated on the 23rd local time that it would not comment on the new developments regarding U.S. trade tariffs until Commissioner for Trade and Economic Security Valdis Dombrovskis speaks with U.S. Trade Representative Katherine Tai. Later that day, both sides will have a call to discuss trade issues.