Trump threatens 50% tariffs on EU and 25% on iPhones

US President Donald Trump has said he is recommending a 50% tariff on all goods from the European Union being imported to the United States.

"Our discussions with them are going nowhere!" he wrote in a post on social media on Friday. He said the new tariffs would kick in on 1 June.

The announcement marks an escalation of Trump's trade war with the EU. He initially proposed a 20% tariff on most EU goods, but halved it to 10% until 8 July to allow time for talks. read more