Trump, European Union
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Trump, Trade War
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7hon MSN
U.S. President Donald Trump issued new tariff threats on Friday that targeted the European Union and makers of smartphones, saying the E.U. will face a 50% levy on June 1 because trade talks are “going nowhere.
The president has publicly condemned multiple companies as the administration attempts to prioritize domestic manufacturing.
President Donald Trump threatened the European Union with 50 percent tariffs. More tariff turmoil: Trump is also waging war on Apple, threatening 25 percent tariffs if it doesn’t shift iPhone production to the United States — that could mean price hikes. Stock markets fell slightly with the news.
Wall Street is assessing President Trump''s tariff salvo on Apple and what his giant tax bill means for the deficit and the economy.
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Analysts warn that the Bitcoin rally may be a "trap" as Trump's tariff threats expose the market's macro fragility.
The move threatens significant volatility in the coming weeks, ahead of a crucial G7 summit in Canada next month.