Trump Makes Big Threat Against Apple

President Trump's latest tariff threat is directed at Apple—he is threatening a 25% penalty unless the company starts making iPhones in the US, reports NBC News. Most are currently made in China, though CNBC notes that the company has been recently moving some production to India.

• "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 Friday on Truth Social. "If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter!"

• EU, too: Trump also threatened to impose a 50% tariff on the European Union, one of the nation's largest trading partners, per the Wall Street Journal. He faulted their "powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits" against US companies.
• Markets: Dow futures were down more than 600 points on the combined threats. Apple shares fell about 3%.

(More President Trump stories.)