President Trump addressed reporters in the Oval Office after signing executive orders on nuclear power, where he announced a proposed 50% tariff on the European Union effective June 1, 2025. Trump explained that products manufactured in the U.S. would not incur any tariffs, emphasizing his goal of encouraging EU companies, like Apple, to build domestic plants. Despite previous negotiations, he asserted he wasn’t looking for a deal with the EU to lessen tariffs. The stock market's volatility reflects investor reactions to his tariff decisions, which he claims are backed by massive financial commitments to the U.S. economy.
Trump's 50% tariff on the EU aims to encourage companies like Apple to build manufacturing plants in the U.S., as there's no tariff for domestic production.
The fluctuating U.S. stock market reacts to Trump's tariff announcements, losing value with increases and regaining it when deal announcements are made.
Trump emphasized that the U.S. has over $12 trillion in investments committed, a level of investment previously unseen during other presidential administrations.
While some may see it as a negotiating tactic, Trump states firmly that he's not seeking a deal with the EU to reduce the tariffs.
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