Trump Tariff Threats Roil Markets: iPhone Levies Loom

President Trump has threatened new tariffs, including a 25% levy on imported iPhones, escalating a trade battle with the EU. This move has caused market instability and increased fears of economic downturn. Trump criticizes EU trade practices and targets Apple for not manufacturing in the U.S.

U.S. President Donald Trump has reignited trade tensions by threatening a 25% tariff on imported iPhones, a move aimed at pressuring Apple to manufacture domestically. This announcement has caused a shake-up in global markets, reversing a period of de-escalation in the ongoing trade disputes.

The proposed tariffs could also affect Samsung and other smartphone producers, creating a ripple effect across industries. The White House's dissatisfaction with the pace of negotiations with the European Union has led to the announcement of a 50% tariff on European goods starting June 1, impacting major exports like cars and pharmaceuticals.

Trump's stance underscores his broader strategy to reshape trade policies and secure more favorable terms for the U.S. Despite the upheaval in stock markets and potential economic repercussions, he remains firm on his trade agenda, pointing to ongoing talks with countries like Japan for expanded trade relations.

(With inputs from agencies.)