Advertisement
You have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.
Trump Turns Back to His Trade War, Threatening Europe and Apple
The president threatened both Apple and the European Union with higher tariffs on social media Friday morning, saying that trade talks with the Europeans had stalled.
President Trump threatened to revive his global trade wars Friday morning, adding a fresh dose of chaos to trade relationships that had calmed somewhat in recent weeks.
The president had focused his attention on a trip to the Middle East and a tax bill on Capitol Hill. But on Friday, Mr. Trump returned to tariffs, saying he would apply a steep tax to European exports starting in just over a week and warning Apple that its iPhones, which are manufactured outside of the United States, would face a 25 percent tariff.
The posts roiled stock markets and renewed risks to the global economy, as similar announcements made by the president have in recent months. If enacted, economists said the tariffs would pose significant costs for Apple, one of the world’s most valuable companies, and rupture U.S. trade with the European Union, the largest trading relationship in the world by some measures.
The president wrote on Truth Social Friday morning that discussions with the European Union “are going nowhere” and that he is recommending a 50 percent tariff on European imports as of June 1.
“The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Mr. Trump wrote. He claimed the bloc’s trade barriers, taxes, corporate penalties and other policies had contributed to a trade imbalance with the United States that was “totally unacceptable.”
In an earlier social media post, the president also targeted Tim Cook, the chief executive of Apple, who visited Mr. Trump at the White House last week. The president wrote that iPhones sold in the United States should be “manufactured and built in the United States, not India, or anyplace else.”
Advertisement
