Apple, Trump and european union
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President Donald Trump threatened the European Union with 50 percent tariffs. More tariff turmoil: Trump is also waging war on Apple, threatening 25 percent tariffs if it doesn’t shift iPhone production to the United States — that could mean price hikes. Stock markets fell slightly with the news.
President Trump lashed out at Apple CEO Tim Cook as he wielded more tariff threats against the European Union pressuring U.S. stocks which are on pace for weekly losses. The 10-year Treasury yield hovered near 4.
The heads of General Motors, Ford and Stellantis met with Trump to outline how his tariffs would disrupt automaking. Trump gave them some reprieves on domestic vehicles with foreign parts not covered by the U.S.-Mexico-Canada trade agreement, but he still has a 25% tax on imported steel and aluminum.