"The E.U., formed for the primary purpose of taking advantage of the U.S. on trade, has been very to deal with."

President Donald Trump reignited trade tensions with his social media posts before the Memorial Day holiday aimed at the European Union and Apple.

U.S. President Donald Trump threatened once again on Friday to ramp up his trade war, recommending a 50% tariff on European Union goods starting June 1 and warning Apple he may impose a 25% tariff on iPhones manufactured outside the U.