Guardian - Donald Trump has threatened to impose a 25% tariff on iPhones if they are not made in the United States, as he stepped up the pressure on Apple to build its signature product in America.
The US president caused a pre-trading dip in Apple shares with a post on the Truth Social platform stating that iPhones sold inside the US must be made within the country’s borders.
Trump said in the post: “I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the US.”
The Guardian - Donald Trump has said he will impose a 50% tariff on all EU imports to the US from 1 June after saying trade talks between the two trading blocs were “going nowhere”.
In a surprise announcement, the US president posted on his Truth Social platform that his long-running battle to secure concessions from the EU had stalled.
He accused the EU of taking advantage of the US on trade, saying: “Our discussions with them are going nowhere! Therefore I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”
Stock markets slumped in response to the post, with S&P 500 down by 1% and the tech-heavy Nasdaq down 1.3% on opening. The STOXX Europe 600 index fell by 1.7%.
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