Trump threatens EU with 50% tariff, iPhone maker Apple with 25%

News Snapshot:

U.S. President Donald Trump cranked up his trade threats on Friday, targeting both smartphone giant Apple along with imports from the entire European Union, sending the global market roiling after weeks of de-escalation provided some reprieve. Trump threatened to impose a 25 per cent tariff on Apple for any iPhones sold, but not manufactured, in the United States. More than 60 million phones are sold in the United States annually, but the country has no smartphone manufacturing. He also said he would recommend a 50 per cent tariff on the European Union to begin on June 1, which would result...