President Donald Trump on Friday threatened a 50% tax on all imports from the European Union as well as a 25% tariff on Apple products unless iPhones are made in America, the Associated Press reports.
The Republican president said he wants to charge higher import taxes on goods from the EU, a long-standing US ally, than from China, a geopolitical rival that had its tariffs cut to 30% this month so Washington and Beijing could hold negotiations. Trump was upset by the lack of progress in trade talks with the EU, which has insisted on cutting tariffs to zero even as the president has publicly insisted on preserving a baseline 10% tax on most imports.
Trump also threatened import taxes against Apple, which now joins Amazon, Walmart and other major U.S. companies that are in the White House’s crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by his tariffs.
In response to Trump’s tariffs on China, Apple and CEO Tim Cook had been looking to shift iPhone manufacturing to India as the company adjusts supply chains. That plan has reportedly become a source of frustration for Trump.
