Trump’s post immediately pushed down U.S. stock futures and European markets, with indexes in Germany and France plunging 2%.

Donald Trump threatened imports from the European Union with a sweeping 50% tariff Friday, posting online that trade talks with the bloc are “going nowhere.”

In a post on his Truth Social platform, Trump wrote that he was “recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”

Just minutes earlier, Trump had also threatened Apple with a 25% tariff if it does not start producing iPhones in the United States — an outcome industry experts broadly see as a nonstarter.

“The concept of Apple producing iPhones in the U.S. is a fairy tale,” prominent tech analyst Dan Ives said in response to Trump’s threat Friday.