New Delhi, May 23 (H.S.): US President Donald Trump has announced a recommendation for a 50% tariff on all goods imported from the European Union, effective June 1. He expressed frustration over stalled trade discussions, claiming the EU has been difficult to negotiate with and is exploiting the US for trade. This move escalates his ongoing trade war, which initially included a lower 20% tariff proposal on EU goods.

Additionally, Trump warned Apple CEO Tim Cook that a 25% import tax would be imposed on iPhones not produced in the US. Trump aims to boost domestic manufacturing and reduce the US trade deficit with the EU, where imports exceed exports. His tariff announcement has unsettled global markets, including significant declines in major European stock indices, as higher tariffs complicate trade with the world’s largest economy.

Hindusthan Samachar / Jun Sarkar