Trump threatens 25% of the tariff on outside the US
The proposed tariff on Apple would also apply to Samsung, says Trump
President says “I’m not looking for an agreement” with the EU
Shares fall to the US and Europe; dollar down, gold
Apple’s planned investments do not include iPhone production
Philip Blenkinstop, David Lawder, Stephanie van The Berg
Brussels/Banff, Canada/Hague, – US President Donald Trump threatened to re -increase his trade war on Friday and, from 1 June, promotes 50% of the European Union’s goods and warns Apple that it can slap 25% of all iPhone purchased by US consumers. Twin Threats, supplied through social media, rooted global markets after de-eskalace weeks provided some retribution. The main US indices and European stocks have fallen, the dollar weakened, while the price of gold, safe for investors, Rose. The revenues of the Ministry of Finance in the US were concerned about the effect of tariffs on growth.
Trump’s wide party against the EU was invited by the belief of the White House that negotiations with the block do not proceed fast enough. But his saber also meant a return to the Washington Trade War, which shaken markets, businesses and consumers and increased concern about a global economic decline. Meanwhile, the President’s attack on Apple is his latest attempt to pressure on a particular company to move production to the United States, car players, pharmaceutical companies and chipmakers. However, the United States does not produce smartphones in bulk – although US consumers buy more than 60 million phones per year – and moving production would probably increase the cost of iPhone phones by hundreds of dollars.
Later on Friday, Trump told reporters inside the oval office that his proposed Apple tariff would also apply to “Samsung and anyone who produces this product” apparently refers to smartphones.
He said he expected to be a new phone with the phone by the end of June.
Trump repeated his complaint that the European Union was badly treating the US and limiting the US in the sale of cars to the EU. “And I just said,” It’s the time to play the game the way I know how to play the game. ”
“I’m not looking for an agreement,” Trump said as he asked if he was expecting an agreement 1 June.
EU trade chief Maros Sefcovic said that the European Commission was fully determined to secure an agreement that worked for both parties after Friday’s phone call with
Dutch Prime Minister Dick Schoof supported the EU strategy in the EU interviews in the Hague reporters and stated that this last announcement in the negotiations is likely to see this last announcement.
“Before we saw that tariffs can go up and down in interviews with the US,” he said.
The White House paused most of Trump’s punishment, which Trump announced at the beginning of April against almost every country in the world after investors furiously sold US assets, including government bonds and the US dollar. He left on the spot 10% of the basic tax on most imports and later reduced his massive 145% tax on Chinese goods to 30%.
“My basic case is that they are able to achieve an agreement, but I’m most nervous about negotiations with the European Union,” said Nathan Sheets, a global chief economist in Citigroup, New York.
50% of EU import fees could increase consumer prices for everything from German cars to Italian olive oil.
Last year, the EU exports to the United States amounted to approximately 500 billion euros led by Germany, Ireland and Italy. According to EU data, drugs, cars and automatic parts, chemicals and aircraft belonged.
The dispute over the White House’s tariffs is a business deal with many countries, but progress was unstable. Financial leaders from a group of seven industrialized democracies tried to reduce disputes by tariffs at the beginning of the week at the Forum in the Canadian Rocky Mountains.
“The EU is one of the least popular Trump regions, and it seems that it does not have good relations with its leaders, which increases the chance of a long -term trade war between them,” said Kathleen Brooks, research director of XTB.
Bessnt would not comment on other potential trade agreements, but said Fox News that it would be more announced in July that it would be more announced at the end of the 90 -day pause on access to mutual tariffs.
The shares of German manufacturers and luxury companies, some of the most exposed tariffs, fell. Volvo Cars CEO Hakan Samuelsson told Reuters on Friday that customers would have to pay a large part of an increase in customs related costs and that it could be impossible to import the smallest cars of the company into the United States. There was hope that the agreement would soon be reached.
“It could not be in the interests of Europe or the US to close trade,” Samuelsson said. Apple refused to comment on Trump’s threat, which would reverse the exclusion that he granted on smartphones and other electronics imported mainly from China in a break for large technology companies that sell consumer goods. Shares fell by 3% after Trump in the early truth of the social contribution said he told the CEO of Apple Tim Cook “long ago” that “I expect their phones iPhone, which will be sold in the United States, will be manufactured and built in the United States, not in India or anywhere else.”
Cook and Trump met on Tuesday, according to a source familiar with the situation.
Apple accelerates plans for most iPhones to be sold in the United States in factories in India by the end of 2026 so that it can navigate potentially higher tariffs in China. But the chances of moving production to the US are slimmer. In February Apple said it would spend $ 500 billion in four years in nine US countries, but this investment has not been intended to bring iPhone production to the US
“It is difficult to imagine that Apple can fully meet this request with this President’s request in the next 3-5 years,” said Davidson & Co Gil Luria.
This article was generated from an automated news agency without text modifications.
(Tagstotranslate) Trump tariff
