If you listen closely you can hear them screaming in Cupertino...
Trump threatens 50% tariffs on EU and 25% penalties on smart phones as his trade war intensifies
President Donald Trump on Friday threatened a 50% tax on all
imports from the European Union as well a 25% tariff on smartphones unless those products
are made in America.
The threats, delivered over social media, reflect Trump’s ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters.
The
Republican president said he wants to charge higher import taxes on goods from the EU, a longstanding US ally, than from China, a geopolitical rival that had its tariffs cut to 30% this month so Washington and Beijing could hold negotiations. Trump was upset by the lack of progress in trade talks with the EU, which has proposed mutually cutting tariffs to zero even as the president has publicly insisted on preserving a baseline 10% tax on most imports.
President Donald Trump is threatening a 50% tax on all imports from the European Union as well as a 25% tariff on smartphones unless the products are made in America.
apnews.com