Trump threatens 25% tariffs on Apple if iPhones not made in the US

The Star

US President Donald Trump reignited trade tensions on Friday (May 23) by threatening major tariffs on Apple and imports from the European Union, unsettling global markets after a period of relative calm.  In a statement that sent shockwaves through financial circles, Trump proposed a 25% tariff on iPhones sold—but not manufactured—in the United States.   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00U.S. President Donald Trump reignited trade tensions on Friday by threatening major tariffs

00:08on Apple and imports from the European Union, unsettling global markets after a period of

00:14relative calm.

00:15In a statement that sent shockwaves through financial circles, Trump proposed a 25 percent

00:21tariff on iPhones sold, but not manufactured, in the United States.

00:26The move poses a significant challenge for Apple, which sells over 60 million smartphones

00:31annually in the U.S., but lacks domestic production facilities.

00:36People like Tim, you're expanding all over and doing things that I really wanted you

00:40to do right from the beginning.

00:41I used to say, Tim, you've got to start doing it over here, and you really have, I mean,

00:45you've really put a big investment in our country.

00:47We appreciate it very much, Tim, Apple.

00:50Trump also announced plans to recommend a 50 percent tariff on imports from the European

00:55Union, set to take effect on June 1.

00:58The sweeping measure would impact a broad range of sectors, including luxury goods, pharmaceuticals,

01:05and high-end machinery, prompting concern among major European exporters.

01:11Following the announcement, Apple shares fell 3.5 percent in pre-market trading, dragging down

01:17other major tech stocks as well.

01:20Trump did not specify when the Apple tariffs might take effect.

01:24Trump has a 50 percent in the country have entered nearly as long as a company.

01:26Trump looks at the east coast as well.

01:27Trump has a 50 percent in pre-market trading, driving to US.

01:29Trump has a 50 percent in the West Coast, and many launching companies.

01:31Trump has a 50 percent in the West Coast has been more likely to do that for a long time.

01:33Trump has been more likely to discuss the development of the US to not

01:42the way up.

01:43Trump has been the Fernando Amsa's.

01:44Trump has been the best for the entrepreneur, since the writer of the country has been better.

01:49He also played the next week.

01:51Paul puppets, which is a 40 percent in the U.S.

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