Overview
- Donald Trump announced plans to impose 50% tariffs on European imports starting June 1, citing a lack of progress in trade negotiations.
- Products manufactured in the United States will be exempt from the tariffs, a move aimed at encouraging onshore production.
- The announcement caused European markets to plummet, with major indices like the CAC 40 and DAX dropping over 3% and 2%, respectively.
- Trump also threatened a 25% tariff on Apple iPhones if the company does not shift production to the United States.
- The European Union criticized the threats, calling for dialogue based on mutual respect and preparing potential countermeasures.