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US stocks experienced a downturn after former President Donald Trump proposed steep tariffs on the EU and Apple. Trump announced a 50% tariff on EU goods and a 25% levy on iPhones unless Apple shifts manufacturing to the US. The news triggered declines in major indices and Apple shares.
- Trump proposes 50% tariff on EU goods starting June 2025, citing unfair trade practices.
- Apple faces 25% tariff unless it shifts iPhone manufacturing to the US.
- Markets react negatively: S&P 500 (-0.67%), Nasdaq (-1%), Apple (-3%).
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