(Alliance News) - US President Donald Trump threatened a 50% tariff on the European Union, accusing the trade bloc of "being very difficult to deal with".

In a post on the Truth Social platform, Trump said the EU was "formed for the primary purpose of taking advantage of the United States" when it comes to trade.

"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 US of more than USD250 million a year, a number which is totally unacceptable," Trump said in the post.

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

European shares tumbled after the threat. The DAX 40 in Frankfurt fell 1.2%, the CAC 40 in Paris plunged 2.5%, while London's FTSE 100 was 1.2% lower.

Meanwhile, Trump on Friday threatened Apple Inc with a 25% tariff if the iPhones the company sells in the US are not manufactured locally.

"If that is not the case, a tariff of at least 25% must be paid by Apple to the US," Trump said in a post on Truth Social.

Apple shares were 3.4% lower at USD194.46 each in pre-market dealings in New York on Friday.

By Eric Cunha, Alliance News news editor

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