💨 Abstract
Donald Trump has reignited the US-EU trade war by proposing 50% tariffs on EU goods starting June 1, 2025, citing a $250 million annual trade deficit and EU red tape. The EU awaits a response from US trade officials. Additionally, Trump threatened a 25% tariff on iPhones made outside the US. These announcements caused global market turmoil, with US and European markets dropping.
Courtesy: Patrick Harrington
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