Global markets react as Trump proposes 25% tariff on foreign-made iPhones and threatens 50% tariff on EU imports, raising concerns about international trade relations.
U.S. stock markets declined as Trump escalated trade tensions, with the Dow Jones falling 0.56%, S&P 500 down 0.69%, and Nasdaq dropping 0.97%. Trump threatened Apple with a 25% tariff unless iPhones are manufactured in the U.S., causing Apple's stock to fall 2.6%. He also warned of potential 50% tariffs on EU goods starting June 1, citing stalled trade negotiations.
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