Connect with us
[bsa_pro_ad_space id=12]

Business

Trump threatens 50% tariffs on EU, 25% tariffs on iPhones

Published

4 minute read

From The Center Square

By 

President Donald Trump threatened fresh tariffs on the European Union and iPhone maker Apple on Friday, prompting a sell-off on Wall Street.

Trump said trade talks with the European Union, which represents 27 nations, are “going nowhere.” The president said he was recommending a 50% tariff on imported goods from the EU starting June 1.

“The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump wrote on Truth Social. “Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable.”

The U.S. is the EU’s largest trading partner, buying 21% of the block’s exports, according to EU data.

Trump announced a slate of higher reciprocal tariffs on dozens of nations April 2. Seven days later, he suspended those higher rates for 90 days to give his trade team time to make deals. Since then, Trump signed two deals, a starter deal with the United Kingdom and temporary truce with China. The president has kept a 10% baseline tariff on all imports as talks continue. Goods from China face 30% import duties.

Trump said Friday that talks with the EU had stalled.

“Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025,” he wrote on Truth Social. “There is no Tariff if the product is built or manufactured in the United States.”

Trump also threatened 25% tariffs on Apple, calling out the company’s CEO in a Truth Social post.

“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.”

Trump has made tariffs the centerpiece of his foreign policy agenda during his second term. His on-again, off-again approach has frequently sent markets up and down with little notice, to the chagrin of those looking for stability in stocks.

Some business groups, including the U.S. Chamber of Commerce, have asked Trump to avoid tariff threats and work toward more free-trade agreements.

Trump’s focus on tariffs comes after years of inflation that frustrated American consumers and helped bring Trump back to the White for a second term. However, economists have warned that tariffs could push up prices for consumers.

Trump has said he wants to use tariffs to restore manufacturing jobs lost to lower-wage countries in decades past, shift the tax burden away from U.S. families, and pay down the national debt.

A tariff is a tax on imported goods. The importer pays the tax and can either absorb the cost or pass the cost on to consumers through higher prices.

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

Alberta

Calgary taxpayers forced to pay for art project that telephones the Bow River

Published on

From the Canadian Taxpayers Federation

The Canadian Taxpayers Federation is calling on the City of Calgary to scrap the Calgary Arts Development Authority after it spent $65,000 on a telephone line to the Bow River.

“If someone wants to listen to a river, they can go sit next to one, but the City of Calgary should not force taxpayers to pay for this,” said Kris Sims, CTF Alberta Director. “If phoning a river floats your boat, you do you, but don’t force your neighbour to pay for your art choices.”

The City of Calgary spent $65,194 of taxpayers’ money for an art project dubbed “Reconnecting to the Bow” to set up a telephone line so people could call the Bow River and listen to the sound of water.

The project is running between September 2024 and December 2025, according to documents obtained by the CTF.

The art installation is a rerun of a previous version set up back in 2014.

Emails obtained by the CTF show the bureaucrats responsible for the newest version of the project wanted a new local 403 area code phone number instead of an 1-855 number to “give the authority back to the Bow,” because “the original number highlighted a proprietary and commercial relationship with the river.”

Further correspondence obtained by the CTF shows the city did not want its logo included in the displays, stating the “City of Calgary (does NOT want to have its logo on the artworks or advertisements).”

Taxpayers pay about $19 million per year for the Calgary Arts Development Authority. That’s equivalent to the total property tax bill for about 7,000 households.

Calgary bureaucrats also expressed concern the project “may not be received well, perceived as a waste of money or simply foolish.”

“That city hall employee was pointing out the obvious: This is a foolish waste of taxpayers’ money and this slush fund should be scrapped,” said Sims. “Artists should work with willing donors for their projects instead of mooching off city hall and forcing taxpayers to pay for it.”

Continue Reading

Automotive

Supreme Court Delivers Blow To California EV Mandates

Published on

 

From the Daily Caller News Foundation

By Katelynn Richardson

“The Supreme Court put to rest any question about whether fuel manufacturers have a right to challenge unlawful electric vehicle mandates”

The Supreme Court sided Friday with oil companies seeking to challenge California’s electric vehicle regulations.

In a 7-2 ruling, the court allowed energy producers to continue their lawsuit challenging the Environmental Protection Agency’s decision to approve California regulations that require manufacturing more electric vehicles.

“The government generally may not target a business or industry through stringent and allegedly unlawful regulation, and then evade the resulting lawsuits by claiming that the targets of its regulation should be locked out of court as unaffected bystanders,” Justice Brett Kavanaugh wrote in the majority opinion. “In light of this Court’s precedents and the evidence before the Court of Appeals, the fuel producers established Article III standing to challenge EPA’s approval of the California regulations.”

Kavanaugh noted that “EPA has repeatedly altered its legal position on whether the Clean Air Act authorizes California regulations targeting greenhouse-gas emissions from new motor vehicles” between Presidential administrations.

“This case involves California’s 2012 request for EPA approval of new California regulations,” he wrote. “As relevant here, those regulations generally require automakers (i) to limit average greenhouse-gas emissions across their fleets of new motor vehicles sold in the State and (ii) to manufacture a certain percentage of electric vehicles as part of their vehicle fleets.”

The D.C. Circuit Court of Appeals previously rejected the challenge, finding the producers lacked standing to sue.

“The Supreme Court put to rest any question about whether fuel manufacturers have a right to challenge unlawful electric vehicle mandates,” American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson said in a statement.

“California’s EV mandates are unlawful and bad for our country,” he said. “Congress did not give California special authority to regulate greenhouse gases, mandate electric vehicles or ban new gas car sales—all of which the state has attempted to do through its intentional misreading of statute.”

Continue Reading

Trending

X