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(Bloomberg) -- President Donald Trump dug in on his threat to impose a 50% tariff on the European Union and said a potential 25% charge on smartphones would apply to all foreign-made devices, in the latest escalation of a trade war that is rattling markets and confusing businesses.Most Read from BloombergNY Private School Pleads for Donors to Stay Open After Declaring BankruptcyCan Frank Gehry’s ‘Grand LA’ Make Downtown Feel Like a Neighborhood?UAE’s AI University Aims to Become Stanford of the

(Bloomberg) -- President Donald Trump said that the tariffs he threatened against Apple Inc. earlier Friday would also be aimed at a wider range of device makers, including Samsung Electronics Co., to spur them into moving manufacturing of their products to the US. Most Read from BloombergNY Private School Pleads for Donors to Stay Open After Declaring BankruptcyCan Frank Gehry’s ‘Grand LA’ Make Downtown Feel Like a Neighborhood?UAE’s AI University Aims to Become Stanford of the GulfNYC’s War on

Just when a degree of calm appeared to have settled over world markets, despite a worrying spike in many countries' long-term bond yields, U.S. President Donald Trump gave the world a stark reminder on Friday that his trade war is far from over. In threatening 50% tariffs on European goods effective June 1 and floating a 25% charge on Apple iPhones sold in the U.S., Trump shook investors from any complacency the recent de-escalation may have cultivated. European and U.S. stocks slumped - the S&P 500 sealed its steepest weekly fall since March - ensuring it will be a nervy and anxious long weekend for investors.

Demanding new tariffs on Europe and Apple, Trump’s wild tariff roller-coaster ride is making it tough to do business—and will put a drain on the economy.

Experts agree tariffs and pressure from President Donald Trump to make iPhones in the U.S. will drive prices higher, but disagree on how much.

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A top U.S. bank's analyst raised her price target on the famous Japanese video game developer. Market players were eager to push the start button on Nintendo (OTC: NTDOY) stock as the trading week drew to a close. Shares of the storied Japanese video game company finished Friday up by more than 5% thanks in no small part to an analyst's price-target increase.

Investing.com --Shares of U.S. Steel (NYSE:X) climbed 23% today following President Donald Trump’s announcement of the company’s decision to keep its headquarters in the United States, coupled with a new partnership with Nippon Steel. The move is expected to generate significant economic benefits, including the creation of approximately 70,000 jobs and an addition of $14 billion to the U.S. economy.

U.S. stocks fell after President Donald Trump threatened 50% tariffs on the European Union that could begin in a little more than a week. The S&P 500 lost 0.7% Friday and had its worst week in the last seven. The Dow Jones Industrial Average dropped 0.6%, and the Nasdaq composite sank 1%.

The president said he would issue a 50% tariff on the EU and a 25% tax on Apple in a pair of Truth Social posts.