00:00As of the time of filing in this news report on Saturday night,
00:04leaders in the European countries have kept mum ever since on Friday,
00:08the United States, US President, Donald Trump announced plans to impose 50% tariff on goods
00:15not made in the North America country that comes from European countries,
00:20with a specific threat to impose 25% tariff on Apple if the iPhone manufacturer does not
00:26move production to the United States. This, President Donald Trump based his actions on
00:31what he claimed to be cases of unfair and unjustified lawsuits filed by the European
00:36countries against American companies among other reasons, but, it could be recalled that,
00:42earlier in the month of April 2025, when President Trump issued the first tariff threat of 25%
00:50on European goods, the immediate past Germany Chancellor, Olaf Scholz, had said that even
00:56if European countries did nothing in response to Donald Trump imposed tariffs, the increased
01:02tariffs will cause a big problems in the US economy, adding that, Trump intending tariff
01:07increment on EU goods is an economic error, and the European Commission President, Ursula
01:14von der Leyen had also in early April 2025 said that the EU countries is the largest single
01:20market in the world and the EU have what it takes to retaliate or strike back.
01:26President Donald Trump on Friday threatened tech giant Apple with a 25% tariff if the iPhone
01:32manufacturer doesn't move production to the United States. He later said trade talks with
01:38the European Union were progressing so poorly that a 50% tariff should be imposed next week,
01:43June 1, 2025. President Trump proposed that Apple build its iPhones in the US or face a 25% tariff.
01:53Tech analysts say that would balloon prices to $3,500 per phone, according to CNN senior data analyst,
02:01Harry Enten who analyzed the possible impacts the US president action may cause the North American residents.
02:08President Donald Trump has said he is, recommending, imposing 50% tariffs on goods from the European
02:16Union being imported to the United States. Our discussions with them are going nowhere,
02:21he said in a post on social media on Friday. The announcement marks an escalation of Trump's
02:27trade war with the EU, which has already been hit with a blanket 20% tariff on all US exports,
02:34according to US media. Their powerful trade barriers, bad taxes, ridiculous corporate penalties,
02:42non-monetary trade barriers, monetary manipulations, unfair and unjustified lawsuits against Americans'
02:49companies, and more, have led to a trade deficit with the US of more than $250 million a year,
02:56a number which is totally unacceptable, he wrote in a Truth Social post on Friday morning.
03:02Our discussions with them are going nowhere, Trump wrote, therefore, I am recommending a
03:08straight 50% tariff on the European Union, starting on June 1, 2025. The tariff Trump is
03:16considering slapping on the EU is more than double the size of the 20% initial, reciprocal,
03:22tariff that was briefly in place in April before he swiftly paused those tariffs to allow for further
03:27negotiations, CNN stated. The pause is set to expire on July 9. Since the pause, the only trade deal
03:36that's been announced is with the United Kingdom. Meanwhile, US Senator Maria Cantwell issued statement
03:43on Trump's 50% EU tariff threat and said thus. Americans already face a summer of high prices.
03:51It is not the time to be threatening new tariffs that drive prices even higher. The European Union is
03:57a $19 trillion market with 448 million potential customers for US exports. And it has been an
04:05important US ally. Now the EU is getting ready for a new trade war when we should be focused on working
04:12together to confront Russia and other global challenges. The US Senator, Maria Cantwell,
04:18ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of
04:24the Senate Finance Committee, released this statement in regarding President Trump's threat to impose a
04:3050% tariffs on imports from the European Union. Earlier in April, 2025, the European Commission President,
04:39Ursula von der Leyen had said a gathering that, many Europeans feel disheartened by the new US tariffs.
04:46Europe didn't start this, but we have what we need, the biggest single market, the leverage to negotiate,
04:53the means to strike back. We'll defend our interests. The US has announced 25% tariffs on steel,
05:01aluminum, cars, and parts. They plan to extend duties to semiconductors, pharmaceuticals,
05:08and timber. On April 2, 2025, we expect further tariffs on almost all goods, affecting many
05:16countries worldwide. In response to US tariffs, we'll act on three fronts. We're open to talks,
05:24but ready to hit back. We'll expand trade with other partners. And we'll strengthen the EU single
05:30market, remove barriers, grow our scale, boost competitiveness. We don't want a trade war.
05:38The US-EU trade flow is nearly balanced. But let's be clear, we didn't start this. If needed,
05:45we have a strong retaliation plan. And we will use it, Ursula had stated in early April 2025.
05:53We had reported that the escalating trade war between the two biggest economies in the world,
05:58China and the United States, US may take a new twist as the China leader. Xi Jinping on Friday for the
06:05first time issued a public statement in reaction to President Donald Trump continuous issuance of
06:11apparently outrageous self-imposed tariffs on goods exported by other countries to the US,
06:17with the President stating clearly to Trump that China is not afraid of US. This is in addition to
06:23Jinping earlier statement he issued on November 5, 2018 during the first tenure of President Donald Trump,
06:29that the Chinese economy is an ocean and not a pond, that China economy can withstand strong winds
06:35and storms. And because of this collective experience of the last, well, almost 75 years,
06:43so many Europeans feel utterly disheartened by the announcement from the United States.
06:49Let me be clear. Europe did not start this confrontation. We think it is wrong. But my message to you today is
07:00that we have everything we need to protect our people and our prosperity. We have the largest single
07:08market in the world. We have the strength to negotiate. We have the power to push back. And the people of
07:15Europe should know that together we will always promote and defend our interests and our values. And
07:24together we will always stand up for our Europe.
07:29Our level, bringing you the news in a more digital world.
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