Trump Threatens 25% Tariffs on Apple, 50% on EU Imports

US President Donald Trump has threatened to impose a 25 percent tariff on Apple products if iPhones sold in the United States are not manufactured domestically, specifically criticizing production in India and elsewhere. Trump stated he had informed Apple CEO Tim Cook of this expectation and warned that if unmet, Apple must pay the tariff. Alongside Apple, Trump also targeted the European Union, recommending a 50 percent tariff on EU imports starting June 1, 2025, citing unfair trade practices and a significant US trade deficit with the bloc. These announcements caused market declines, including a drop in Apple shares and broader indices, amidst ongoing trade tensions and negotiations. It remains unclear whether Trump has the authority to impose tariffs specifically on individual companies. The US has been pressuring the EU for tariff reductions, while the EU has proposed phased tariff cuts and cooperation in other sectors, preparing retaliatory tariffs if talks fail.