The president of the United States, Donald Trump, once again threatened on Friday to intensify his commercial war, recommending a 50% tariff on the goods of the European Union as of June 1, and warning Apple that he can impose a 25% tariff on any iPhones manufactured outside the United States.
The twin threats, delivered through social networks, the global markets destroyed after weeks of decalcus had provided some respite. The S&P 500 fell 1.2%in the first operations, Nasdaq fell 1.5%and European shares fell 1.7%.
The actions of car manufacturers and luxury companies in Germany, some of the most exposed to tariffs, fell into the news. Porsche, Mercedes and BMW fell between 2% and 4.5%. The Essiloruxotic sunglasses company was 5.5% lower.
Apple’s shares fell 3.7% in the negotiation prior to the market, together with the actions of other technology Bellwehers. Trump did not give a period for his warning to Apple. More than 60 million phones are sold annually in the United States, but the country has no smartphone manufacturing.
“The European Union, which formed with the main purpose of taking advantage of the United States in commerce, has been very difficult to drive,” Trump wrote in his real social place. “Our discussions with them are not going anywhere!”
The EU Commission on Friday refused to comment on the new tariff threat of 50%, saying that it would wait a phone call between the head of EU Maros Sefcovic and his American counterpart Jamieson Greer.
The envoys of the 27 EU countries will meet in Commerce in Brussels later on Friday.
Total EU exports last year to the United States totaled around 500 billion euros, with Germany [161 billion euros]Ireland [72 billion euros] and Italy [65 billion euros] – The three largest exporters. According to EU data, pharmaceutical products, cars and car parts, chemicals and airplanes were among the largest exports.
“The EU is one of Trump’s least favorite regions, and does not seem to have good relations with its leaders, which increases the possibility of prolonged commercial war between the two,” said Kathleen Brooks, director of Research at XTB.
Export -oriented car -oriented companies in Europe, especially the main cars manufacturers in Germany, are strongly exposed, with few short -term options other than discounts and smaller price increases.
Porsche and Volkswagen Audi have no American production. Some, including Audi and Volvo cars, have already said that they will move some production.
The Volvo Cars CEO, Hakan Samuelsson, told Reuters on Friday that customers would have to pay a large part of the cost related to the rate, and that it could be impossible to import smaller cars in the company’s alignment to the United States.
But he continued with the hope that Europe and the United States soon reached an agreement.
“I think there will soon be an agreement. I could not be interested in Europe or the United States to close trade between them,” said Samuelsson.
Optimism ‘cleaned’
Trump had sent the markets staggering at the beginning of April after imposing tariffs on almost all inhabited premises around the world, including a massive tax of approximately 145% in goods imported from China. Investors responded by selling the assets of the United States furiously, since the levies made them question the state of refuge sure that the United States has enjoyed for a long time, and although the markets have recovered, the confidence of business and consumers has collapsed in the United States.
The shock response forced the White House to stop most tariffs until the beginning of July, leaving in place a 10% tax in most imports of other nations and 30% in most Chinese products. But Trump maintained the possibility of reliving certain levies.
The White House has been in negotiations with numerous countries on commercial issues, but progress has been unstable. The financial leaders of the group of seven industrialized democracies tried to minimize disputes over tariffs earlier this week in a forum in the Canadian rock mountains.
“All optimism about trade agreements eliminated in minutes, even,” Fawad Razaqzada, City Analyst of City Index and Forex.com, wrote on Friday.
Pointing to Apple
“A long time ago I informed Tim Cook from Apple that I hope that his iPhones, to be sold in the United States of America, manufacture and build in the United States, not in India, or elsewhere,” Trump said in a publication on Truth Social on Friday morning, referring to Apple’s CEO.
“If that is not the case, Apple must pay a tariff of at least 25% to the United States”
It is not clear if a tariff on an individual company would face legal obstacles. Apple declined to comment on Trump’s threat.
In response to market agitation, the White House had granted exclusions of steep tariffs on smartphones and some other electronic products imported in much of China, a break for Apple and other technological companies that depend on imported products.
Apple aims to make most of its iPhones be sold in the United States in the factories of India at the end of 2026, and is accelerating those plans to navigate with potentially higher tariffs in China, its main manufacturing base, said a source. Reuters.
But Trump and others, including Secretary of Commerce Howard Lutnick, have suggested that Apple could do iPhones in the United States. In February, Apple said it will spend $ 500 billion in four years to expand hiring and facilities in nine US states, but did not say that the investment would be used to take the manufacture of iPhone to the United States.
The iPhone manufacturer said that most of its smartphones sold in the United States would originate in India in the quarter of June.
“It is difficult to imagine that Apple can comply with this president’s request in the next 3-5 years,” said Da Davidson & Co, Gil Luria.
