Trump: ‘I’m Not Looking for a Deal,’ With EU After 50% Tariff Threat/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Trump reignited his global trade war Friday, imposing new tariffs on the EU and tech manufacturers. He rejected further negotiations, accusing trade partners of dragging their feet. Markets dipped as Trump’s aggressive moves signaled growing economic friction.
Trump Revives Global Trade War + Quick Looks
- Trump imposes 50% tariffs on EU imports.
- 25% levies planned on iPhone, smartphone manufacturers.
- President says: “I’m not looking for a deal.”
- Markets in U.S. and Europe slide after announcement.
- EU vows to retaliate, warns against trade threats.
- Tech firms like Apple, Samsung also in Trump’s crosshairs.
- White House cites sluggish talks, blames EU’s “collective action problem.”
- Trade threats timed ahead of G7 summit in Europe.
Trump: ‘I’m Not Looking for a Deal,’ With EU After 50% Tariff Threat
Deep Look
WASHINGTON — President Donald Trump reignited a high-stakes global trade battle on Friday, announcing sweeping new tariffs on European imports and signaling fresh penalties on smartphone manufacturers — most notably Apple — as frustrations mount over slow-moving international negotiations.
Trump, speaking from the Oval Office, made it clear that he is abandoning efforts to reach diplomatic trade agreements and instead moving aggressively with a 50% tariff on all European Union goods.
“I’m not looking for a deal,” Trump declared. “We’ve set the deal — it’s at 50 percent.”
In tandem, he said the White House would apply 25% tariffs to iPhones and other smartphones not manufactured in the United States, escalating pressure on Apple and other tech companies to relocate production stateside.
Market Jitters and Political Pressure
The news sent shockwaves through global markets, with European indices and U.S. stocks dropping sharply as investors braced for potential retaliation and broader economic disruption.
Trump’s announcements mark a strategic pivot from diplomatic outreach to direct confrontation, driven by internal White House concerns over the slow pace of trade deals ahead of a self-imposed July deadline.
“The EU has a collective action problem,” Treasury Secretary Scott Bessent told Fox News. “Their leadership is keeping member countries in the dark.”
Europe Pushes Back
In a terse post-announcement statement, EU Trade Commissioner Maros Sefcovic insisted Europe was “fully committed” to a fair deal but said talks must be rooted in mutual respect, not economic coercion.
“We stand ready to defend our interests,” Sefcovic said.
He added that the EU’s $576 billion in annual exports to the U.S. make trade cooperation essential, while Trump remains fixated on the $208 billion trade deficit as justification for aggressive tariffs.
Apple, Samsung and the Tech Target
Trump’s tariff threats extended beyond Brussels to Apple CEO Tim Cook, whom he publicly rebuked for expanding iPhone production in India instead of shifting it entirely to the U.S.
“Tim, you’re my friend, but I don’t want you building in India,” Trump said earlier this week.
While initially targeting Apple, Trump later widened the tariff threat to “Samsung and anybody that makes that product.”
Despite a $500 billion U.S. investment pledge by Apple, Trump said it wasn’t enough if production moves overseas.
Time Running Out Before G7 Summit
Trump’s actions come just ahead of the G7 summit, where he will face EU leaders from France, Germany, and Italy — all bracing for potential tariff escalations.
A recent G7 finance minister meeting barely mentioned trade, and no consensus emerged on managing Trump’s aggressive tariff push.
“This is a clear play to force their hand,” said Stephen Moore, a Trump economic adviser. “He wants to show them time’s up.”
What Comes Next
- Trump’s 90-day tariff pause ends July 9, and officials hint that new reciprocal tariffs may roll out shortly after.
- Negotiations with Japan, India, and the UK continue — though no additional deals have been finalized.
- The Commerce and Trade Representatives met with Sefcovic Friday, with limited progress reported.
- Smartphone tariffs could disrupt global supply chains and hit American consumers.
- Polls show only 37% of Americans support Trump’s tariff strategy, suggesting growing domestic risk.
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