Trade chief Maros Sefcovic said the EU is "ready to defend" its interests after Trump threatened 50% tariffs on the bloc.

The stock market took a drop after President Donald Trump threatened to slap the European Union with a 50% tax on imports and tech giant Apple with a 25% tariff on smartphones. In another political battle,

President Trump on Friday took aim at Apple and the European Union in a significant escalation of his ongoing trade war. In a one-two posting spree on Truth Social early Friday, he threatened Apple with 25% tariffs on non-US-made iPhones,