
Finance With Palak (Stock Market)📈
May 23, 2025 at 02:43 PM
*Trump Imposes 50% Tariff on EU* 🇺🇸❌🇪🇺
One of the closest allies of the US now could be facing 50%, Trump has issued a stark warning to the EU, _*threatening to impose a sweeping 50% tariff on all EU imports*_ to the US, effective June 1. 🚨🤷♂️
Trump stated that trade discussions with Brussels were _*"going nowhere!"*_ and accused the EU of being formed "for the primary purpose of taking advantage of the United States on TRADE." He even cited " _*powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against American companies,"*_ and a significant trade deficit with the US as reasons for his proposed action. 😳❌
Separately, Trump also issued a warning to Apple, stating the tech giant would face a 25% tariff _*unless it moves all iPhone manufacturing to the US*_. This comes amidst reports of Apple expanding its supply chain in India. 🇺🇸🤡
_Imagine a president of the country having to dictate terms on trade and manufacturing for a company born in the US, unreal._