So, like, Donald Trump is all on his Truth Social platform, right? And he’s all like, “Yo, EU, our talks ain’t going nowhere, so like, I’m gonna slap a 50% tariff on y’all starting June 1.” And he’s throwing shade at the EU, saying they created this whole mess to rip off the US. Drama much?
The European Commission hasn’t clapped back yet, but they’re probably gonna have some words after their call with US-EU trade bigwigs. Meanwhile, financial markets are losing their minds. European stocks are tanking, the FTSE 100 is down over 1.2%, and Germany and France aren’t faring much better. And over in the US, Wall Street is feeling the heat too. The Nasdaq is down more than 1%, and Brent crude oil is taking a hit at $63 a barrel. Oof.
And check this out, Trump’s also throwing shade at Apple, saying they better start making their iPhones in the US or face a 25% tariff. Apple’s stock is already feeling the burn, dropping more than 2% in premarket trading. Trump’s like, “I told Tim Cook, iPhones gotta be made in the US, not India or anywhere else.” Looks like Apple might have to shift things around if they wanna avoid those tariffs. But hey, at least they’re planning to expand their India supply chain, so maybe they’ll figure something out.
Overall, it’s a messy situation with Trump stirring the pot with tariffs and threats. Who knows how this will all play out, but it’s definitely causing a stir in the markets. Just another day in the wild world of international trade, I guess!
