S&P 500, DAX, Crypto Sink as as Trump Slaps 50% Tariff Threat on EU, Targets iPhones
The simmering trade conflict between the United States
and the European Union escalated sharply when President Donald Trump announced
plans to impose a 50% tariff on all EU goods entering the U.S. starting June 1,
alongside a potential 25% tariff on iPhones not made domestically.
The announcement came just hours before scheduled
trade negotiations, casting a shadow over talks and rattling markets on both
sides of the Atlantic.
Trump’s move marks a significant escalation from his
earlier announcement of a 20% tariff on EU products, which he temporarily
halved to 10% until early July to allow negotiations, the BBC reported.
An Unfolding Trade Standoff
The European Union, one of the United States’ largest
trading partners, has yet to…
