Trump threatens to impose tariffs on the European Union and Apple.

President Donald Trump escalated his trade threats today, targeting the giant company "Apple" and imports from the entire European Union, causing disruption in global markets after weeks of calm that saw a decrease in escalation intensity. Trump threatened to impose a 25% tariff on iPhones sold in the United States and produced in other markets. More than 60 million phones are sold annually in the United States where no smartphone manufacturing takes place. Trump stated that he will recommend imposing a 50% tariff on the European Union starting on June 1, leading to significant tariffs on luxury goods, medicines, and other products produced by European companies. These threats led to a 1.5% drop in futures contracts linked to stocks listed on the S&P 500 index before the session began, and the Stoxx 600 index fell by 2%. Apple's stock dropped by 3.5% before the session began, along with shares of other leading technology companies. Trump did not specify a timeline for his warnings directed at the company.