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Trump threatens 50% tariffs on EU and 25% penalties on Apple as his trade war intensifies

President Donald Trump on Friday threatened a 50% tax on all imports from the European Union as well a 25% tariff on Apple products unless iPhones are made in America. The threats, delivered over social media, reflect Trump's ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters. The Republican president said he wants to charge higher import taxes on goods from the EU, a long-standing US ally, than from China, a geopolitical rival that had its tariffs cut to 30% this month so Washington and Beijing could hold negotiations.

3 Top Buffett Stocks to Buy and Hold for the Long Haul

Warren Buffett is still calling the shots at Berkshire Hathaway but plans to soon turn over investment decisions. Buffett famously likes to invest in safe stocks and I believe that these three are safe bets for the long haul. There are thousands of publicly traded companies in the world, but Berkshire Hathaway only holds around 40 positions in its stock portfolio.

Trump renews trade threats, taking aim at European Union, Apple

BRUSSELS/BANFF, Canada/THE HAGUE (Reuters) -U.S. President Donald Trump threatened on Friday to ratchet up his trade war once again, pushing for a 50% tariff on European Union goods starting June 1 and warning Apple he may slap a 25% levy on all iPhones bought by U.S. consumers. The S&P 500 fell 1% in early trading, the Nasdaq fell 1.2%, and European shares fell 1.5%. Trump's broadside against the EU was prompted by the White House's belief that negotiations with the bloc are not progressing fast enough.