'Bad ideas coming back': Trump slammed for latest 'nuts' economic proposals

President Donald Trump, in recent weeks, appeared to be backing down from some of his more severe tariffs proposals. But on Friday morning, May 23, he posted some new suggestions on tariffs aimed at the European Union (EU) and Apple. And the business world was quick to react — often in a negative way.

On his Truth Social platform, Trump posted, "I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank (you) for your attention to this matter!"

In a separate Truth Social post, Trump wrote, "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with. Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!"

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Meanwhile, on X, formerly Twitter, social media users have a lot to say about Trump's proposals.

Tim Chapman, president of the right-wing Advancing American Freedom — which was founded by former Vice President Mike Pence — tweeted, "On again, off again, deals, no deals, 10 percent, 30 percent, 145 percent, 50 percent…how is any American business supposed to plan in this environment?"

Patrick De Haan, known for his financial analysis on CNBC, CNN and other cable news outlets, lamented, "The bad ideas are coming back… you'd think they would have learned something from the huge market drop in early April."

MSNBC's Jesse Rodriguez, tweeting new Dow Jones and S&P 500 figures, warned, "Futures are tanking."

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Financial Times noted, "Apple defies Trump to expand India manufacturing."

Reporter Chris Cillizza, formerly of CNN and the Washington Post, tweeted, "Here we go again. Again."

Melanie D'Arrigo, executive director of the Campaign for New York Health and a National Organization for Women (NOW) exec in New York State, wrote, "Manufacturing iPhones in the U.S. could increase prices by 90%, raising the price of an iPhone 16 Pro from $1,199 to approximately $2,278. Apple won’t pay the cost of Trump’s threatened tariffs — consumers will be forced to. That’s how tariffs work, no matter what Trump says."

X user David W. Pippy argued, "'Dow futures tumble 500 points as Trump threatens new tariffs against the EU and Apple'- CNBC. This is nuts. 25% tariffs on phones not made in the US and a 50% tariff on the EU starting on June 1. If you knew he was going to say this ahead of time you could make a bundle."

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