"The E.U., formed for the primary purpose of taking advantage of the U.S. on trade, has been very to deal with."

In a surprising move, President Trump has reignited trade tensions by threatening a 25% tariff on Apple products unless they are manufactured in the U.S. This could significantly impact iPhone prices and alter the tech landscape.

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