Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
XRP 
USDC 
Lido Staked Ether 
Cardano 
Avalanche 
Trump tariffs on the EU are sending shockwaves through global markets after the president’s bold statement this week.
Donald Trump announced on Truth Social that he plans to impose a 50 percent tariff on all EU imports. This action will begin on June 1, 2025, if current trade talks remain stalled. Trump declared that the EU has been exploiting the U.S. for years. “Our discussions with them are going nowhere,” he wrote.
This aggressive move comes even as Trump has settled similar disputes with the U.K. and China. The planned tariffs would not apply to goods manufactured in the U.S., according to the president. This tactic is meant to pressure European companies to bring operations stateside.
Markets React to Tariff Shock
The announcement caused immediate panic in financial markets. Major European indices like Germany’s DAX and France’s CAC 40 fell over 2 percent. London’s FTSE 100 dipped by more than 1.2 percent.
U.S. markets also braced for losses. Futures indicated a rough open for the Dow, S&P 500, and Nasdaq. Investors fear the tariffs could worsen inflation, disrupt supply chains, and trigger retaliatory action from Brussels.
Oil prices fell by over 1 percent, with Brent crude dropping to $63 per barrel. The U.S. dollar lost ground as fears grew over economic uncertainty and America’s rising debt levels. The British pound soared to its highest level since February 2022.
ANOTHER MUST-WATCH ON ICN.LIVE:
Apple in the Crosshairs Too
Trump didn’t stop at Europe. He issued a stern warning to Apple, stating iPhones not made in the U.S. would face a 25 percent tariff. Currently, Apple assembles most iPhones in China and India. After the post, Apple shares sank more than 2 percent in premarket trading.
Trump reminded the public of his long-standing demand to Tim Cook, Apple’s CEO. “I expect iPhones sold in the United States to be manufactured in the United States,” he posted.
Trump tariffs on the EU could spark trade retaliation
Brussels hasn’t officially responded yet. However, EU officials hinted that a statement would follow high-level talks on Friday. Many analysts expect the EU to respond with tariffs of its own. A full-blown trade war would hurt both sides.
This isn’t Trump’s first major trade war. During his previous term, he imposed heavy duties on Chinese goods. Critics warn that the same playbook could damage the fragile global recovery.
Trade Wars Ahead?
Trump’s tariffs on the EU might become a central issue in upcoming political and economic debates. The move appeals to his voter base, especially those focused on manufacturing and domestic job creation. However, it risks triggering a damaging cycle of retaliation and recession fears.
Analysts and economists are closely watching the Friday meeting between the EU and U.S. trade reps. Until then, markets may continue to reel from the president’s aggressive trade threats.
