The European Union faces a surge of inexpensive Chinese goods due to tariffs imposed by the Donald Trump administration. Brussels fears this redirection of Asian overproduction could significantly harm local industry and is preparing protective measures.
Analysts warn that Trump's tariffs may further endanger European industry, with the EU already planning measures to protect against this surge. Tariffs on EU products have raised concerns about the future of European manufacturers, who are already struggling with US tariffs on automobiles and steel.
Tough tariffs imposed on China and Vietnam may cause redirection of Asian goods, such as electronics and machinery, to European markets. The European Commission plans to introduce new protective tariffs and more closely monitor import flows.
Apple experienced a loss of over $300 billion in market value, becoming one of the biggest victims of Donald Trump's trade policies. Shares of the tech giant fell by over 9%, reducing its market capitalization from $3.36 trillion to $3.05 trillion, marking the largest single-day drop in the company's history.
Trump's new tariffs affect all major Apple supply and manufacturing centers in Asia, including China, Taiwan, India, and Vietnam. These measures will impact nearly all models of iPhones, iPads, Macs, and other company products. CEO Tim Cook faces the dilemma of raising prices or absorbing additional costs, which could reduce company profits by tens of billions of dollars.
Trump has set a deadline of April 5 for TikTok to find a non-Chinese buyer, or the app will be banned due to national security concerns. The US represents a lucrative source of income, with TikTok earning $16 billion in the US in 2023. Washington is tightening rules on technology exports and restricting investments in Chinese AI as part of a strategy to maintain its lead over China.