Pakistan, May 24 -- In a surprising move, U.S. President Donald Trump has announced a new tax on Apple iPhones manufactured in India, delivering another major blow to Indian Prime Minister Narendra Modi's economic goals. Trump made it clear that only iPhones made in the United States will be allowed to be sold there without extra taxes.

Trump stated that Apple will have to pay taxes if it sells iPhones in the U.S. that are produced in India or any other foreign country. He also mentioned that Apple CEO Tim Cook has already been informed about this decision. The move is seen as a push to bring more manufacturing back to the U.S.

In another strong economic stance, Trump also proposed a 50% tariff on the European Union starting June 1. The...