On Friday the president threatened a 50% tariff on the European Union and a 25% levy on smart phones if companies failed to move production to the U.S.

European luxury shares tanked on Friday as U.S. President Donald Trump said he is recommending a straight 50% tariff on goods from the European Union starting on June 1. Europe's luxury industry, producing handbags,

President Trump's threat to slap 50% tariffs on the European Union takes aim at one of America's biggest economic partners. These charts show what's at stake: **The EU runs a big goods-trade defi