Trump tariff threats on EU, Apple, send US futures and global markets skidding

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By JIANG JUNZHE and MATT OTT, Associated Press

Markets on Wall Street and in Europe declined rapidly early Friday morning after President Donald Trump posted a pair of tariff threats on social media, one aimed at Apple and the other at the European Union.

Futures for the S&P 500 and the Dow Jones Industrial Average slid 1.5% and Nasdaq futures tumbled 1.7% before the bell. Oil prices fell and Treasury yields sank as well.

Markets took a sharp turn downward after Trump posted on social media that he wants “a straight 50% Tariff” on the EU beginning June 1 because representatives of the bloc have been difficult in negotiations.

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European markets fell nearly immediately after Trump’s post on his own Truth Social site. Germany’s DAX quickly swung to a 1.9% loss, while the CAC 40 in Paris fell 2.4%. London’s FTSE 100 shed 1.1%.

Trump has dialed back or paused many of his tariff threats in recent weeks, bringing some peace to markets which had been swinging wildly in both directions for weeks as Trump fired off tariff threats.

Shares of Apple were down 3.8% in morning trading after Trump threatened to put a 25% tariff on Apple products unless the company moves its iPhone manufacturing to the United States.

The threat delivered over social media could dramatically increase the price of iPhones, potentially hurting sales and the profits of one of America’s leading technology companies.

U.S. benchmark crude oil tumbled $1.07, or 1.3%, to $60.13 per barrel while Brent crude, the international standard, fell 99 cents to $63.45 per barrel.

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

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By JOSH BOAK, Associated Press

WASHINGTON (AP) — 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 are not producing the sufficient trade deals he is seeking or the return of domestic manufacturing he has promised voters.

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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. Trump was upset by the lack of progress in trade talks with the EU, which has insisted on cutting tariffs to zero even as the president has publicly insisted on preserving a baseline 10% tax on most imports.

“Our discussions with them are going nowhere!” Trump posted on Truth Social. “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.”

That post had been preceded by a threat of import taxes against Apple. Apple now joins Amazon, Walmart and other major U.S. companies in the White House’s crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by his tariffs.

“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,” Trump wrote. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.”

In response to Trump’s tariffs on China, Apple and CEO Tim Cook were looking to shift iPhone manufacturing to India as the company adjusts supply chains. That plan has become a source of frustration for Trump, who also brought it up last week during his Middle East trip.

Stock futures sold off after Trump’s postings.

A Paris court will deliver the verdict in Kim Kardashian jewelry heist trial

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By THOMAS ADAMSON, Associated Press

PARIS (AP) — The robbery was over in minutes, the fallout long: Nearly a decade after robbers stormed Kim Kardashian’s luxury residence and tied her up at gunpoint, a Paris court will decide the verdict Friday in one of the most audacious celebrity heists in modern French history.

Nine men and a woman stand accused of carrying out or aiding the crime during the 2016 Fashion Week, when masked men dressed as police entered Kardashian’s Paris residence, bound her with zip-ties and vanished with $6 million in jewels.

Kim Kardashian, left, accompanied by her mother Kris Jenner leaves the justice palace after testifying, regarding a robbery of millions of dollars in jewels from her Paris hotel room in 2016, in Paris, Tuesday, May 13, 2025. (AP Photo/Aurelien Morissard)

After delivering final statements in court, the defendants were dismissed Friday morning, with a verdict expected later in the day.

At the heart of the trial is 70-year-old Aomar Aït Khedache, the alleged ringleader and a veteran of Paris’ criminal underworld. Prosecutors have asked for a 10-year sentence. His DNA, found on the zip-ties used to bind Kardashian, cracked open the case. Wiretaps captured him giving orders, recruiting accomplices, and arranging to sell the diamonds in Belgium. The loot was never found.

Khedache claims he was only a foot soldier. He blamed a mysterious “X” or “Ben” — someone prosecutors say never existed. Khedache asked for “a thousand pardons,” communicated via a written note, according to French media. Other defendants also used their final words to express remorse.

The accused became known in France as “les papys braqueurs” — the grandpa robbers. Some arrived in court in orthopedic shoes and one leaned on a cane. Some read the proceedings from a screen, hard of hearing and nearly mute. But prosecutors warned observers not to be seduced by soft appearances.

The trial is being heard by a panel of three judges and six jurors, who will need a majority vote to reach a decision.

The defendants face charges including armed robbery, kidnapping and gang association. If convicted, some of them could face life in prison.

Kardashian’s testimony earlier this month was the emotional high point. In a packed courtroom, she recounted how she was thrown onto a bed, zip-tied, and had a gun pressed to her on the night of Oct. 2, 2016.

“I absolutely did think I was going to die,” she said. “I have babies. I have to make it home. They can take everything. I just have to make it home.”

She was dragged into a marble bathroom and told to stay silent. When the robbers fled, she freed herself by scraping the tape on her wrists off against the sink, then hid with her friend, shaking and barefoot.

She said Paris had once been her sanctuary — a city she would wander at 3 a.m., window shopping, stopping for hot chocolate. That illusion was shattered.

The robbery echoed far beyond the City of Light. It forced a recalibration of celebrity behavior in the digital age. For years, Kardashian had curated her life like a showroom: geo-tagged, diamond-lit, public by design. But this was the moment the showroom turned into a crime scene. In her words, “People were watching… They knew where I was.”

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Afterward, she stopped posting her location in real time. She stripped her social media feed of lavish gifts and vanished from Paris for years. Other stars followed suit. Privacy became luxury.

Defense attorneys have asked the court for leniency, citing the defendants’ age and health. But prosecutors insist that criminal experience, not frailty, defined the gang.

Even for France’s painstakingly thorough legal system, observers commented about how long it took for the case to be tried.

Kardashian, who once said “this experience really changed everything,” hopes the verdict will offer a measure of closure.

Rescue efforts underway for 260 workers trapped in a South African gold mine

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JOHANNESBURG (AP) — Rescue efforts are underway in South Africa to bring 260 workers trapped in a gold mine for a day back to the surface, the Sibanye Stillwater mining company said on Friday.

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According to the company, an initial investigation showed that a sub-shaft rock winder skip door opened at the loading point and caused some damage to the mineshaft at the Kloof mine, west of Johannesburg.

“Following a detailed risk assessment, it was decided that employees should remain at the sub-shaft station until it is safe to proceed to the surface, in order to avoid walking long distances at this time,” the company said in a statement.

The National Union of Mineworkers, which represents workers at the Kloof mine, said the miners have been trapped for almost 24 hours, with the company repeatedly changing the estimated time for them to return to the surface.

“We are very concerned because the mine did not even make this incident public until we reported it to the media,” said NUM spokesman Livhuwani Mammburu.

The company said all miners were accounted for and safe, adding that it expected to hoist them back to the surface on Friday.