**🚨 #TrumpTariffs Update: Escalating Trade Wars & Economic Fallout**
President Trump’s aggressive tariff policies are reshaping global trade, with new threats targeting **Apple (25% on non-U.S. iPhones)**, the **EU (50% tariffs by June 1)**, and ongoing tensions with China. Here’s what you need to know:
### 🔥 **Latest Actions**
- **Apple & Tech**: Trump demands iPhones be made in the U.S. or face 25% tariffs, extending threats to Samsung and others .
- **EU Trade War**: A 50% tariff on all EU imports looms as negotiations stall, prompting EU preparations for $108B in retaliation .
- **China Truce**: A 90-day pause reduces U.S. tariffs from 145% to 30%, while China cuts its rates to 10% .
### 💸 **Consumer & Business Impact**
- **Higher Prices**: Tariffs are already hitting receipts—e.g., a wheelchair imported from China cost $3,500 in tariffs alone .
- **Small Businesses**: Profit margins are shrinking, with one comic shop owner seeing profits drop from 30% to 16% .
- **Market Chaos**: Stocks fluctuated after April’s tariff announcements, with fears of inflation and job losses (e.g., auto layoffs) .
### 🌍 **Global Reactions**
- **UK Deal**: Auto tariffs lowered to 10% for 100K vehicles; steel/aluminum tariffs scrapped in exchange for Boeing purchases .
- **Retaliation**: Canada imposed 25% tariffs on U.S. autos; China and EU threaten countermeasures .
### 📉 **Economic Warnings**
- **"Largest peacetime tax hike"**: Critics like Mike Pence warn tariffs could cost households ~$1,400/year .
- **IMF Alert**: Downgraded 2025 growth forecasts, citing U.S. recession risks .
**🗣️ The Bottom Line**: Trump’s tariffs aim to boost U.S. manufacturing but risk stagflation and global trade fractures. Stay tuned for June 1’s EU deadline!
*Sources: Yahoo Finance, NPR, Kiplinger, BBC, Al Jazeera*
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