In a stunning move today, May 23, 2025, President Donald Trump unveiled aggressive new tariffs, igniting fresh trade disputes with both the European Union and China.
EU Faces 50% Tariff Hammer: Citing stalled negotiations and perceived economic exploitation, Trump declared a sweeping 50% tariff on all EU imports, effective June 1, 2025. This sent shockwaves through markets, with S&P 500 futures and the STOXX Europe 600 index immediately dipping. The EU, previously offering phased tariff cuts, is now gearing up for €100 billion in retaliatory measures.
Apple in the Crosshairs: In an unprecedented move, Trump threatened a 25% tariff on Apple products made outside the U.S. – specifically iPhones from India and Vietnam – demanding manufacturing return to American soil. Apple's shares tumbled 3.5%, raising fears of higher consumer prices.
China on Notice for 60% Tariffs: Trump also reaffirmed his plan for a 60% tariff on all Chinese imports, aiming to slash the trade deficit and boost domestic production. Experts warn of significant disruptions to global supply chains and increased costs for American consumers.
Global markets are reeling, with major indices declining amid heightened fears of a full-blown trade war and its ripple effects on the world economy. #TrumpTariffs #TRUMP #Tariffs #TariffImpact