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Trump threatens 50% tariffs on EU and 25% penalties on Apple
President Donald Trump is threatening a 50% tax on all imports from the European Union as well as a 25% tariff on Apple products unless iPhones are made in America.
The threats, delivered over social media, reflect Trump’s ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters. In response to Trump’s tariffs on China, Apple CEO Tim Cook said earlier this month that most iPhones sold in the U.S. during the current fiscal quarter would come from India, with iPads and other devices being imported from Vietnam. “(W)e see no chance that iPhone production starts to happen in the US in the near-term given the upside down cost model and Herculean-like supply chain logistics needed for such an initiative,” wrote Wedbush Securities analyst Dan Ives.
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