{"id":126871,"date":"2025-05-24T02:51:15","date_gmt":"2025-05-24T02:51:15","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/126871\/"},"modified":"2025-05-24T02:51:15","modified_gmt":"2025-05-24T02:51:15","slug":"fresh-sell-off-on-trade-fears-trumps-50-eu-tariff-threat-rattles-markets","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/126871\/","title":{"rendered":"Fresh sell-off on trade fears: Trump’s 50% EU tariff threat rattles markets"},"content":{"rendered":"

By JOHN-PAUL FORD ROJAS<\/a> <\/a> <\/p>\n

Updated: 16:51 EDT, 23 May 2025 <\/p>\n

Stocks fell sharply\u00a0yesterday after Donald Trump reignited the global trade war with the threat of a 50 per cent tariff on European Union goods.<\/p>\n

The FTSE 100 immediately fell by more than 100 points before closing down 0.2 per cent, or 21.29 points, to 8,717.97.<\/p>\n

Stock markets in Europe suffered bigger falls, with France’s Cac 40 and Germany’s Dax each down by more than 2 per cent. The Cac 40 closed 1.7 per cent lower and the Dax 1.5 per cent down.<\/p>\n

Traders in New York were also unnerved by Trump’s renewed appetite for tariffs \u2013 coming after US deals with Britain and China that had seemed to signal a cooling in his approach. Wall Street’s Dow Jones index fell 0.4 per cent, the S&P 500 dropped 0.5 per cent and the Nasdaq slumped 0.6 per cent.<\/p>\n

Apple shares slid nearly 3 per cent after the US President singled out the firm with a threat to impose a 25 per cent charge on any iPhone purchased in America not made in the country.<\/p>\n

More than 60m are sold in the US annually but currently none are made there.<\/p>\n

\"Sell-off: <\/p>\n

Sell-off: Stocks fell sharply after Donald Trump reignited the global trade war with the threat of a 50 per cent tariff on European Union goods<\/p>\n

Fawad Razaqzada, market analyst at City Index, said: ‘All the optimism over trade deals wiped out in minutes \u2013 seconds, even.’<\/p>\n

Neil Wilson, UK investor strategist at Saxo Markets, added: ‘This was not in most people’s playbooks.’ In a post on his Truth Social platform, Trump said the EU was ‘very difficult to deal with’ and ‘our negotiations with them are going nowhere’.<\/p>\n

He also wrote: ‘I am recommending a straight 50 per cent tariff on the European Union, starting on June 1, 2025.’<\/p>\n

Car makers were among the big fallers on European markets with Volkswagen down 3 per cent, BMW sliding by 3.7 per cent, Renault off by 1.2 per cent and Stellantis \u2013 owner of Vauxhall, Peugeot, Chrysler and Fiat \u2013 falling 4.6 per cent.<\/p>\n

\"\" <\/p>\n

On the FTSE 100, British Airways owner International Airlines Group was among the big fallers, down 2 per cent, or 6.6p,\u00a0to 319.8p.<\/p>\n

Banks were also selling off yesterday, with Standard Chartered slipping 1.3 per cent, or 15p, to 1151p and Barclays down by 1 per cent, or 3.35p, to 323.3p.<\/p>\n

Apple shares tumbled after Trump said in a post on social media: ‘I have long ago informed Tim Cook [chief executive] of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or any place else.’<\/p>\n

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\n Fresh sell-off on trade fears: Trump’s 50% EU tariff threat rattles markets<\/p>\n