****

President Donald Trump announced a proposal to impose a 50% tariff on the European Union, citing dissatisfaction with stalled trade negotiations. The announcement, made via a post on Truth Social, indicated the tariffs would take effect on June 1, 2025. Trump criticized the EU, saying they are "very difficult to deal with" and that discussions have reached an impasse.

The proclamation came shortly after Trump threatened a separate tariff of at least 25% on Apple if the company does not commence manufacturing iPhones in the United States. This move signals Trump's persistent use of hefty import taxes as leverage against economic activities he disapproves of.

Following Trump’s announcements, stock futures took a noticeable tumble, showcasing the market's immediate reaction to the escalating trade tensions. In his social media post, Trump accused the EU of various trade malpractices, including powerful trade barriers, VAT taxes, and unfair lawsuits against American companies, which he said contribute to a trade deficit exceeding $250 million annually.

Trump emphasized that products built or manufactured in the United States would be exempt from the new tariffs, encouraging domestic production as a potential workaround for companies affected by the new policy. As this is a developing story, more updates are anticipated.