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Donald Trump: Donald Trump has warned to impose 50% tariff on goods coming from European Union and 25% on foreign smartphones. It can have a major impact on brands like Apple. This has increased the decline in the market and global instability.
Donald Trump: American politics has once again caused earthquake, when President Donald Trump took an aggressive stance on global trade and threatened to impose 25% duty on foreign smartphones including 50% tariff and iPhone on all imports from the European Union. Trump’s statement has not only increased tension between the US and the European union, but has also created a stir in the global stock markets. This decision is going to have a big impact on veterans like tech companies, especially Apple, while EU is also preparing for retaliation.
Trump again teased trade war
US President Donald Trump has once again shocked Global Trade. Let me tell you, they have announced to impose 50% tariffs on all products imported from the European Union (EU) from June 1 and 25% tax on foreign smartphones. Trump says that the European Union is “behaving unjustly” with American goods, and the conversation is no longer reaching any conclusion. He made this statement through social media, which created a stir in political and business circles.
Direct attack on apple
Trump’s decision has had the biggest impact on Apple. Apple, who is already shifting its manufacturing India from China, is now under trump’s warning. Trump has clearly told CEO Tim Cook that if the production is not brought to America, then the company will have to pay 25% tax. After this statement, Apple’s shares were recorded by 3%, making it clear that the market has taken this danger seriously. The iPhone and other foreign smartphones can now be more expensive in the US market.
European Union’s response
The European Union has given a restrained response to Trump’s decision. EU’s trade chief Maros Sefkovic has appealed to maintain mutual respect and peace. At the same time, Dutch Prime Minister Dick Shuf said that Trump always adopts a threat strategy so that he can get the upper hand in bargaining. If 50% tariff is applied, many sectors such as cars, pharmaceuticals, aircraft and aircraft parts will be badly affected- which will also affect American consumers themselves.
Effect in the market
After the announcement of Trump, the stock markets of America and Europe saw a decline. At the same time, investors increased the investment in gold while turning to safe options, which has increased its prices. Bloomberg’s financial experts say that while a slight stability was returning in the global market, now this tariff war has again given rise to instability.
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