MW As Trump hits E.U., phone makers with fresh threats, here's where all his tariffs stand now

By Victor Reklaitis

The European Union now faces a deadline of June 1 rather than July 8, while the end of June looks key for Apple and Samsung

U.S. President Donald Trump issued new tariff threats on Friday that targeted the European Union and makers of smartphones, saying the E.U. will face a 50% levy on June 1 because trade talks are "going nowhere."

Regarding phone makers, Trump said Apple Inc. $(AAPL)$ will face an import tax of "at least 25%" on any iPhones not made in the U.S. Later in the day, he said his trade action would extend to Samsung Electronics Co. (KR:005930) "and anybody that makes that product," adding that it would hit around the end of June.

Trump's move with Apple appears to be related to his administration's efforts around imposing tariffs on the semiconductor industry SMH, said analysts at Evercore ISI. Chips, pharmaceuticals and other sectors are facing what are called Section 232 investigations.

"The 232 investigation on semiconductors is already in train, and is likely to include some derivative products, including potentially iPhones," Evercore's team said in a note Friday. "Today's news is just another reminder that many sectoral investigations are underway (pharma, semis, trucks, critical minerals, among others). Our base case is that these investigations will conclude with a 25% initial rate with accommodations made later."

The Trump administration in April exempted smartphones and other electronics from its recently announced tariffs, but officials at that time stressed that these products soon would be subject to their own semiconductor-focused duties.

Related: Apple's stock falls as Trump makes a tariff threat on iPhones. Here's why it's misguided.

Meanwhile, the E.U. and most U.S. trading partners have faced a 10% baseline American tariff on their products since Trump on April 9 announced a 90-day pause on the much higher import taxes that he had rolled out on April 2. Trading partners are aiming to make trade agreements with the Trump administration to prevent a reimposition of the higher levies when the 90-day pause ends around July 8.

Following Trump's threat on Friday morning aimed at the E.U., Treasury Secretary Scott Bessent said in a Fox News interview that he hopes it will "light a fire under the E.U."

"I believe the president believes that the E.U. proposals have not been of the same quality that we've seen from our other important trading partners," Bessent said. "So I think this is a response just to the E.U.'s pace."

When Trump was asked on Friday afternoon if there's anything the E.U. can do to avoid a 50% tariff, Trump said the administration was "going to see what happens" but that as it stands now, the trade bloc will get hit with the levy on June 1. "That's the way it is," the president told reporters at the White House while signing executive orders to boost the nuclear-power industry.

Trump has a history of talking up big tariff levels but then retreating. Evercore's analysts said it's "easy to see how conversations over the next week could lead Trump to pull back on the 50% rate," but that it's "also possible he could implement them at least temporarily to bolster the credibility of his threats."

Vanguard strategist John Madziyire indicated that market reactions weren't massive on Friday because of what traders have experienced before in Trump's trade fights. The S&P 500 index SPX closed in the red but well off its session low.

"It's kind of like 'The Boy Who Cried Wolf,'" Madziyire told Dow Jones Newswires, referring to the famous fable. "The administration is not crazy, they have a plan and there is a limit" to how far they will go, he said.

Here is a table tracking the Trump administration's taxes on U.S. imports.

Trump's tariffs

   Target                                  Status of tariffs 
   E.U., many other U.S. trading partners  Besides China, Canada, Mexico and the U.K., other U.S. trading partners like the E.U. face a 10% tariff following a 
   Apple, Samsung and their competitors    Apple, Samsung and any maker of smartphones that aren't manufactured in the U.S. could face a 25% tariff at the end of June, Trump said Friday. This tariff threat looks tied to his administration's efforts to impose tariffs on semiconductors and related electronic products. 
   China                                   Trump's tariff rate for China has 
   Canada and Mexico                       A 25% tariff is in effect, with exemptions for USMCA-compliant goods (an estimated 
   U.K.                                    Following a deal with the U.K., the U.S. is keeping a 10% tariff in place on most U.K. imports, but 
   Other key industries or sectors         Tariffs of 25% are in effect for 

-Victor Reklaitis

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May 23, 2025 17:11 ET (21:11 GMT)

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