Stock markets declined after the president’s early-morning threats of 25 percent import taxes on iPhones and 50 percent on goods from Europe.

President Trump on Friday took aim at Apple and the European Union in a significant escalation of his ongoing trade war. In a one-two posting spree on Truth Social early Friday, he threatened Apple with 25% tariffs on non-US-made iPhones,

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. CBS’ Major Garrett says deals aren’t getting done due to all the uncertainty.