President Donald Trump announced Friday that the Apple technology company faces a 25% tariff on iPhones unless the devices are manufactured in the United States.

Treasury Secretary Scott Bessent said on Friday that President Donald Trump does not believe that the European Union's trade offers to the United States are of sufficient quality and that he hopes that a June 1 50% tariff threat will "light a fire under the EU" in negotiations with Washington.

The president threatened both Apple and the European Union with higher tariffs on social media Friday morning, saying that trade talks with the Europeans had stalled.