In the trade dispute with the EU, US President Donald Trump threatens tariffs of 50 percent from June 1st. The technology group Apple is also visiting in Trump’s. The financial markets react sharply.
US President Donald Trump threatened the EU with import duties of 50 percent from June 1st. Negotiations with Brussels have so far been difficult, Trump said in his online service Truth Social. “Therefore, I recommend a direct customs rate of 50 percent for the European Union from June 1, 2025.”
The EU was mainly founded for the purpose of “exploiting” the United States in terms of trade policy, Trump said. Brussels and the EU countries have brought about a major export surplus compared to the United States with trade barriers. These barriers included VAT, “ridiculous” punishments for corporations, currency manipulation and “unjustified complaints against American companies”. According to Trump, there will be no tariffs if the respective product is produced in the USA.
“Significant escalation”
“This is a significant escalation of the trade voltages,” said chief economist Holger Schmieding from Berenberg Bank. At Trump, however, you could never know. “The EU would have to react and that dignity of the US economy and the European economy significantly harm,” emphasized Schmieding. “But Trump is very unpredictable, and I would not bet that it would get that far.”
In April, Trump surprisingly decided in April on the stock and financial markets to grant many countries – including the EU – a break from certain tariffs for 90 days. It is about punitive levies that are based on the trade deficit of the respective countries. The US President initially put part of his huge customs package, which he announced in early April. The EU had also announced that the planned counter-tariffs were initially exposed to US products for 90 days.
So far, Trump had threatened the EU in the amount of 25 percent, should there be no own agreement with the United States. The month of July has been considered the deadline. The Trump government has not yet dealt with an offer from Brussels for the mutual cancellation of all tariffs to industrial goods. In the past, however, Trump was actually optimistic about finding a solution in the customs dispute with the Europeans.
“Negotiate the EU and the USA”
So it is still completely unclear whether the punitive tariffs in the amount of 50 percent really come into force from June. Trump regularly threatened high tariffs in the past – and shortly afterwards a U -turn. The US President wants to correct alleged trade weights with the tariffs and shift production to the United States. At the same time, customs revenues should serve to at least partially counter its expensive election promise of large tax cuts.
Poland Minister of Commerce Michal Baranowski played down the threat of US President Trump accordingly. “The European Union and the United States are negotiating. Some negotiate behind closed doors, others more in front of ongoing cameras,” says Baranowski, whose country currently holds the rotating EU. He adds: “The fact that we see some important statements in public does not mean that they will be reflected in the US government measures.”
Trump also ties on Apple
Trump also targets the US Tech Group Apple. He threatened Apple import taxes of 25 percent if the company should not shift its iPhone production to the United States. He has long been demanding from Apple boss Tim Cook that iPhones that are sold in the USA are also produced there, “not in India or somewhere else”, Trump wrote on his Truth Social platform. “If this is not the case, Apple must pay an import tax of at least 25 percent to the USA.”
If the US President exercises his threat, this could significantly raise the price of Apple’s mobile phones in the United States. For one of the leading technology companies in the country, this could be accompanied by loss of sales and profits.
The reaction to the announcement was violent at the financial markets. The European stock markets temporarily dropped by around three percent, and the Apple share also gave up vigorously. The minus in the DAX is currently still around two percent. The euro was also under pressure and secure facilities such as German government bonds were in demand.
