Trump Goes All-In on Tariffs: 50% EU Duties and iPhone Threats Shake Markets

President Donald Trump has escalated his trade war rhetoric once again, announcing a massive 50% tariff on European Union imports starting June 1. In a press briefing Friday, Trump said his patience had run out with EU negotiators. “It’s time that we play the game the way I know how to play the game,” he declared.
In a separate warning, Trump said he plans to place at least a 25% tariff on imported iPhones, directly pressuring Apple CEO Tim Cook to shift production back to the U.S. Trump lamented Cook’s plans to move operations to India, saying, “That’s okay, but you’re not going to sell into here without tariffs.”
While the administration’s Treasury Secretary Scott Bessent hoped the tariff threat would “light a fire” under EU negotiators, Trump undercut that by saying he isn’t looking for a deal. Instead, he hinted that new tariffs will simply be rolled out across the board in coming weeks. Markets and global tech firms are now bracing for impact.