Despite or spurred by ongoing negotiations with China, Donald Trump has made his dislike for the EU clear by threatening to scale up his tariff policy with a whopping 50% tariff on goods going into the USA from the European Union.
Because trade negotiations with the EU have stalled, Trump says he isn’t looking for any sort of deal, and intends to proceed to action from the 1st of June.
Trump is already irritated by peace talks between Ukraine and Russia stalling for so long.
The stock market…has suffered.
The dollar went weak, and gold rose.
Trump will also punish Apple, possibly putting a 25% levy on all imported iPhones purchased by US consumers.
This had led people scrambling to buy new Apple products now, before they become absurdly expensive — which would happen at the end of June.
This could actually also apply to Samsung too, said Trump.
The president wants to move production of auto markets, pharmaceutical companies and chipmakers to the United States.
Apple has declined to comment; meanwhile, the EU will probably move towards negotiating tariffs, it seems.
The EU is the largest trading bloc on Earth. Trump has long harboured resentment towards its, feeling it exploits the USA.
