[FoxBusiness] President Donald Trump is demanding that iPhone production takes place in America and accuses European Union of $250B trade deficit
President Donald Trump on Friday threatened to impose fresh tariffs on both Apple and the European Union, saying that the iPhone manufacturer and the trading bloc have not heeded to his previous demands.
In two quick-fire posts on Truth Social, Trump warned he would slap a 25% tariff on imported iPhones if Apple refuses to make the smartphones in the U.S. The move comes after Trump met with Apple CEO Tim Cook at the White House on Wednesday, Fox confirmed.
Trump also threatened the EU with a straight 50% tariff, writing that the bloc has been very difficult to deal with in trade negotiations.
"I have long ago informed Tim Cook of Apple that I expect their iPhones 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. Thank you for your attention to this matter!"
Bringing back manufacturing jobs to the U.S. is a cornerstone of Trump’s "America First" agenda, with Trump also calling out Cook last week in Qatar, saying that he had a "little problem" with the tech giant using facilities in India to make iPhones for sale in the U.S.
Apple has been turning to India for more future production of phones destined for the American market to try to reduce its dependence on China for manufacturing and deal with tariffs, according to Bloomberg.
Meanwhile, Trump accused the EU of exploiting the U.S. through trade barriers, taxes, penalties and lawsuits.
He said the U.S. has a trade deficit of more than $250 billion and that current trade negotiations are "going nowhere."
Trump is proposing a 50% tariff on all EU goods starting June 1, unless they are made in the U.S.
"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.
"Their powerful trade barriers, vat taxes, ridiculous corporate penalties, non-monetary trade barriers, monetary manipulations, unfair and unjustified lawsuits against American 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.
"There is no tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!"
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