The News
US President Donald Trump on Friday threatened the European Union and Apple with new tariffs, expressing impatience over their failure to fall in line with his trade agenda.
Trump said he would recommend a 50% duty on goods from the EU, citing frustrations over stalled trade negotiations, and a 25% tariff on iPhones over Apple’s plan to manufacture many of them in India.
Stock futures fell across the board early Friday on the news, and Apple shares dropped 3% on pre-market trading.
Several governments are trying to strike deals with the US before Trump’s “Liberation Day” tariffs kick in, but foreign officials are reluctant to make major concessions due to the lack of clarity around Washington’s tariff plans, The New York Times reported.
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