Washington. Former President Donald Trump on Friday threatened to impose a 50 percent tariff on all imports from the European Union and a 25 percent penalty on Apple products unless the company moves iPhone production to the United States.

The threats, posted on Trump’s Truth Social platform, underscored both his ability to rattle global markets with a few keystrokes and the reality that his previous tariffs have yet to deliver the trade deals or resurgence in domestic manufacturing that he promised voters.

Trump, a Republican, said he wants higher import taxes on goods from the EU, a long-time US ally, than on those from China. Beijing’s tariffs were recently cut to 30 percent to facilitate ongoing negotiations. Trump expressed frustration over the lack of progress in talks with Brussels, despite the EU’s proposal to eliminate tariffs altogether, something Trump rejected in favor of keeping a baseline 10 percent duty on most imports.

“Our discussions with them are going nowhere!” Trump wrote. “Therefore, I am recommending a straight 50 percent 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.”

That post was followed by a direct threat to Apple, which plans to continue manufacturing iPhones in Asia. Apple now joins Amazon, Walmart, and other major US companies navigating uncertainty and inflationary pressures resulting from the tariff policies.

“I have long ago informed Tim Cook of Apple that I expect their iPhones sold in the United States to be manufactured in the United States, not India, or anyplace else,” Trump wrote. “If that is not the case, a tariff of at least 25 percent must be paid by Apple to the US.”

Apple CEO Tim Cook said earlier this month that most iPhones sold in the U.S. this quarter would come from India, while iPads and other devices would be sourced from Vietnam. Analysts have estimated that relocating iPhone production to the US could drive the retail price of a $1,200 device to between $1,500 and $3,500.

Markets reacted swiftly to Trump’s remarks. S&P 500 futures fell about 1.3 percent as investors weighed the implications of escalating trade tensions. US markets have become highly sensitive to Trump’s tariff announcements, often falling on threats and rebounding when those threats are softened.

Trump’s core argument is that the US runs a “totally unacceptable” trade deficit with the EU. While the US imports more goods from Europe than it exports, the European Commission notes that the overall trade relationship, including services, is roughly balanced. The US has a trade surplus in services that partly offsets the goods deficit, placing the net gap at €48 billion ($54 billion).

German Foreign Minister Johann Wadephul said Berlin supports the EU Commission’s efforts to maintain access to the U.S. market.

“I think such tariffs help no one, but would just lead to economic development in both markets suffering,” Wadephul said in Berlin. “So we are still counting on negotiations and support the European Commission in defending Europe and the European market, while at the same time working on persuasion in America.”

Trump administration officials have previously said the goal of tariffs was to isolate China and strike new trade deals with allies. But threats against EU partners undermine that strategy, said German economist Marcel Fratzscher of the German Institute for Economic Research.

“The strategy of the EU Commission and Germany in the trade conflict with Trump is a total failure,” Fratzscher posted on X. “This was a failure you could see coming. Trump sees Europe’s wavering, hesitation, and concessions as the weaknesses that they are.”

Trump has had a rocky relationship with Apple. While he has praised the company’s $500 billion pledge in domestic AI investment, he turned critical last week during a visit to Qatar.

“I had a little problem with Tim Cook yesterday,” Trump said. “I said to him, ‘My friend, I treated you very good. You’re coming here with $500 billion, but now I hear you’re building all over India. I don’t want you building in India.”

Analysts are skeptical that Apple could shift iPhone production to the U.S. quickly. Wedbush Securities analyst Dan Ives wrote: “We see no chance that iPhone production starts to happen in the US in the near-term given the upside-down cost model and Herculean-like supply chain logistics needed for such an initiative.”