From Investing.com: 2025-05-27 05:49:00

Investors were shaken up by new tariff actions targeting the EU and Apple, recommended by Trump via Truth Social. A 50% tariff on EU imports starts June 1, 2025, and a 25% tariff on all iPhones made outside the US. The EU now faces a deeper trade war with the US as the new 50% tariff replaces the 20% tariff set in April. The US exported $370 billion of goods to the EU in 2024, resulting in a trade deficit of $235 billion. Trump’s proposed tariffs on iPhones could increase prices significantly if passed through to consumers. The market faced a corrective pullback on Friday after reaching overbought conditions, bouncing back late afternoon with comments from Scott Bessent regarding the US budget deficit and SLR. Looking ahead, the market remains overbought short-term, with a consolidation process likely into next week. The Week Ahead includes data on inflation, personal income, spending, and NVIDIA’s earnings.



Read more at Investing.com: The Real Cost of Trump’s EU Tariffs