Trump’s post immediately pushed down U.S. stock futures and European markets, with indexes in Germany and France plunging 2%.
Donald Trump threatened imports from the European Union with a sweeping 50% tariff Friday, posting online that trade talks with the bloc are “going nowhere.”
In a post on his Truth Social platform, Trump wrote that he was “recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”
Just minutes earlier, Trump had also threatened Apple with a 25% tariff if it does not start producing iPhones in the United States — an outcome industry experts broadly see as a nonstarter.
“The concept of Apple producing iPhones in the U.S. is a fairy tale,” prominent tech analyst Dan Ives said in response to Trump’s threat Friday.
Did you know that before Trump started this, the average tariff in EU on American goods was about 1%?
So the question is why the fuck Trump really did this? Except we already know, the plan was to use tariffs as the main taxation income for government, and give extreme tax cuts to the rich.
Trump is trying to be clever, to benefit himself and those that bribe him. But he is really stupid, and after he is finished everybody will be worse off.