Key Takeaways Forecasters expect the economic shockwave from President Donald Trump's trade wars to hit the economy soon, as reflected in "hard data" such as unemployment and inflation statistics.Some forecasts show inflation rising first,

President Donald Trump is threatening a 50% tax on all imports from the European Union as well as a 25% tariff on Apple products unless iPhones are made in America.

President Trump is continuing to wield tariffs as a club to try to force American companies to manufacture their products in the United States. On Friday morning, the president warned Apple that the government would impose a tariff of “at least 25%” on iPhones manufactured overseas.