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

On May 23rd President Donald Trump threatened to impose a tariff of 50% on imports from the European Union, more than double the size of his earlier threat of 20%. “Our discussions with them are going nowhere,

"The European Union... has been very difficult to deal with," Trump said, adding: "Our discussions with them are going nowhere!"