Trump recommends 50% tariff on European Union starting June 1

President Trump announced a proposed 50% tariff on the European Union, citing stalled trade negotiations. In a statement on Truth Social, he expressed frustration, claiming that the EU has been difficult to deal with, leading to a significant trade deficit with the U.S.

Trump's announcement came shortly after he threatened a 25% tariff on Apple unless the company starts manufacturing iPhones in the U.S. Following these posts, stock futures dropped.

Trump's message highlighted various trade barriers set by the EU and warned that the tariffs would begin on June 1, 2025, with no tariffs for products manufactured in the U.S.