President Donald Trump announced plans Friday for a 50% tariff on European Union imports and 25% on Apple products unless iPhones are manufactured in the United States.
Trump shared his intentions on Truth Social, stating “Our discussions with them are going nowhere!” regarding EU trade talks. He announced the 50% EU tariff would begin June 1, 2025, adding “There is no Tariff if the product is built or manufactured in the United States.”
The proposed EU tariffs would exceed those on China, which were recently reduced to 30% to facilitate negotiations between Washington and Beijing. This approach contrasts with Trump aides’ stated goal of isolating China while strengthening alliances.
Trump has expressed frustration with stalled EU trade discussions. The EU proposed mutual tariff elimination while Trump maintains his 10% baseline import tax preference.
German economist Marcel Fratscher criticized the EU’s approach, calling it “a total failure” and suggesting Trump interprets European “wavering, hesitation and concessions as weaknesses.”
Apple Under Pressure
Trump specifically targeted Apple over its continued Asian manufacturing plans. “I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote, threatening a 25% tariff if Apple doesn’t comply.
Trump later told reporters the tariff would apply to “Samsung and anybody that makes that product,” referring to smartphones, with implementation expected by June’s end.
Apple CEO Tim Cook previously stated most iPhones sold in the US this quarter would come from India, with iPads and other devices imported from Vietnam. Analysts estimate domestic iPhone production could increase costs from $1,200 to $1,500-$3,500.
Wedbush Securities analyst Dan Ives called US iPhone production “a fairy tale that is not feasible,” noting it would require 5-10 years to shift production and result in $3,500 price points.
Trump had previously praised Apple’s $500 billion domestic AI investment commitment but turned critical during a Qatar visit. “I had a little problem with Tim Cook yesterday,” Trump said. “I said to him, ‘My friend, I treated you very good. You’re coming here with $500bn, but now I hear you’re building all over India. I don’t want you building in India.'”
Global Reactions
German Foreign Minister Johann Wadephul said the EU executive commission has Germany’s support in preserving American market access. “I think such tariffs help no one, but would just lead to economic development in both markets suffering,” he stated.
Dutch Prime Minister Dick Schoof anticipated a “calm and robust response” from the EU.
Volvo Cars CEO Hakan Samuelsson warned the tariffs would increase consumer prices and limit the company’s ability to sell its Belgium-made EX30 electric vehicle in America.
Market Impact
Financial markets reacted negatively to the announcement. By 10:30am New York time, the Dow fell 0.6%, the Nasdaq dropped 1%, and the S&P 500 declined 0.8%. Apple shares decreased 2.3% from the previous close.
European stocks also suffered, with SAP down 1.8%, Novo Nordisk falling 1%, and French luxury companies LVMH and Hermes dropping approximately 3% and 4% respectively.
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