US President Donald Trump has renewed his push to bring manufacturing back to American soil, this time by threatening a 25% tariff on smartphones assembled outside the US. Initially aimed at Apple, Trump later clarified that the proposed tariff would apply more broadly to include companies like Samsung,

The future for the S&P 500 gained 1 percent while that for the Dow Jones Industrial Average advanced 0.8 percent.

U.S. President Donald Trump issued new tariff threats on Friday that targeted the European Union and makers of smartphones, saying the E.U. will face a 50% levy on June 1 because trade talks are “going nowhere.