President Donald Trump on Friday threatened to hit Apple with a 25% tariff unless the company starts manufacturing iPhones in the U.S., just days after he criticized the company for its reported plans to move its smartphone production from China to India in a bid to beat tariffs.

President Donald Trump said iPhones made outside the US would incur a tariff of at least 25% and threatened to increase levies on European imports.

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.