Trump Threatens EU, Smartphones as Tariff Rhetoric Escalates (1)

President Donald Trump dug in on his threat to impose a 50% tariff on the European Union and said a potential 25% charge on smartphones would apply to all foreign-made devices, in the latest escalation of a trade war that is rattling markets and confusing businesses.

Trump on Friday reiterated his complaints about the EU, accusing the bloc of slow-walking negotiations and unfairly targeting US companies with lawsuits and regulations. The president downplayed the ability of the EU to avoid a higher tariff rate, which he said would hit June 1. “We’ve set the deal. It’s at 50%,” he said. ...