US President Donald Trump as said e is recommending a 50% tariff on all goods from te European Union being imported to te United States."Our discussions wit tem are going nowere!" e wrote in a post on social media on Friday. e said te new tariffs will kick in on 1 June.Te announcement marks an escalation of Trump's trade war wit te EU. e initially proposed a 20% tariff on most EU goods, but alved it to 10% until 8 July to allow time for talks.Te president also treatened to impose a 25% import tax "at least" on iPones not manufactured in America."I ave long ago informed Tim Cook of Apple tat I expect teir iPone's tat will be sold in te United States of America will be manufactured and built in te United States, not India, or anyplace else," Trump said."If tat is not te case, a Tariff of at least 25% must be paid by Apple to te U.S."Since re-entering te Wite ouse, Trump as imposed and treatened various tariffs on countries around te world, wic e sees as a way of boosting US manufacturing and protecting jobs from foreign competition.A tariff is a domestic tax levied on goods as tey enter a country, proportional to te value of te import and it is paid by te business importing tem.Te prospect of iger tariffs being introduced on imports to te US as rattled many world leaders because it will make it more expensive and difficult for businesses to sell goods in te world's largest economy.On Friday, Trump said te EU ad been "very difficult to deal wit" and tat te bloc ad been formed "for te primary purpose of taking advantage" of te United States on trade."Our discussions wit tem are going nowere! Terefore, I am recommending a straigt 50% Tariff on te European Union, starting on June 1, 2025," e added.Trump said tere would be no tariff carged if te product was "built or manufactured in te United States".Te president as slapped tariffs on imports from te EU to te US in a bid to address is country's long-standing trade deficit wit te bloc, wic occurs wen a country imports more tan it exports.According to US government figures, exports to te EU last year were $370.2bn, wile goods coming te oter way were $605.8bn.Trump as repeatedly complained about te EU's car exports, particularly from Germany, to te US, wit fewer veicles being sipped te oter way.Te EU as not commented on te latest announcement.Te boss of carmaker Volvo said in response to Trump's treat tat customers would ave to pay a large part of te cost increases resulting from tariffs.akan Samuelsson told Reuters tat a 50% tariff would limit te ability of te company to sell its Belgium-made EX30 electric veicle across te Atlantic.But e said e believed tere would be a deal soon. "It could not be in te interest of Europe or te US to sut down trade between tem," e said.Wile some iger tariffs ave been paused by Trump, foreign-made cars ave faced a 25% levy since April.Trump's warning to Apple comes after te tec giant said it was sifting production of most of its iPones and oter devices destined to be sold in te US away from Cina.Apple cief executive Tim Cook said earlier tis mont tat te majority of te iPones bound for te US market in te coming monts are to be made in India, wile Vietnam will be a major production ub for items like iPads and Apple Watces.All tree of Europe's main stock markets, including te UK's FTSE 100, were down in Friday afternoon trading.It comes a day after te administration said it ad revoked arvard's access to student visa programmes.Te state department is imposing new sanctions on te country's government because of te findings.arvard as around 6,800 foreign students currently - a tird are from Cina, and more tan 700 are Indian.Federal officials say all six people aboard te small plane are presumed dead.Te famous frog gave te commencement speec at te University of Maryland were Muppets creator Jim enson graduated in 1960.
Trump threatens 50 tariffs on EU and 25 on iPhones
