United States (US) President, Donald Trump on Friday, threatened to impose a new 25 percent levy against Apple and a 50 percent tariff on the European Union (EU).
Speaking on his Truth Social he Lamented that negotiations with the EU are going nowhere and that he is recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.
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If the new duties come into effect, they would dramatically hike the current US baseline levy of 10 percent, and raise economic tensions between the world’s biggest economy and its largest trading bloc.
In a separate message, the president said Apple had failed to move iPhone production to the US despite his repeated requests, and he threatened new duties of at least 25 percent if they did not comply.
Stock futures on Wall Street fell on the news, with Apple’s share price plunging more than three percent in pre-market trading.
