EU calls for 'respect' after Trump threatens 50% tariffs
- On May 23, 2025, President Trump announced his intention to implement a 50% duty on imports from the European Union beginning June 1, along with a separate 25% tariff targeting Apple products manufactured outside the United States.
- Trump's tariff proposal followed his ongoing criticism of Apple for manufacturing iPhones in Asia, despite CEO Tim Cook reporting most US-sold iPhones now come from India.
- The tariffs reflect Trump's concern with a $54 billion trade deficit with the EU and his push to shift manufacturing, while Treasury Secretary Scott Bessent urged Apple to move more supply chains to the US.
- Following Trump's announcement, the S&P 500 dropped about 1%, Apple shares fell 3.7%, and market volatility increased, with analysts estimating iPhone prices could rise significantly if made domestically.
- The tariff threats increased market uncertainty and renewed trade tensions, suggesting prolonged economic risks and challenging US-EU relations despite EU efforts to maintain market access.
Insights by Ground AI
Does this summary seem wrong?
82 Articles
82 Articles
All
Left
11
Center
13
Right
12
The EU Calls for "Respect" After Trump Threatens 50% Rate: "We're Ready to Defend Ourselves" - HotNews.ro
The Head of Trade of the European Union stated that the blockade of 27 members is committed to obtaining a trade agreement with the US based on "respect", not on "advertising", according to BBC. "The EU is fully engaged,...
·Romania
Read Full ArticleUS-EU trade war fears reignite as Europe strikes back at Trump's threat
In recent days, the US president has again threatened once-allies with the spectre of tariffs. But he also said he would impose the levy on one of America's most successful companies: Apple. Markets have responded negatively to the news.
·United Kingdom
Read Full ArticleCoverage Details
Total News Sources82
Leaning Left11Leaning Right12Center13Last UpdatedBias Distribution36% Center
Bias Distribution
- 36% of the sources are Center
36% Center
L 31%
C 36%
R 33%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage