Apple’s stock has sold off on tariff fears, but the company still has a healthy business underpinned by a sticky ecosystem and robust array of services offerings.

The president said he would issue a 50% tariff on the EU and a 25% tax on Apple in a pair of Truth Social posts.

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Stock futures across all three market indexes fell Friday after President Donald Trump threatened 50% tariffs on the European Union and at least 25% levies on Apple, whose stock was at the forefront of a broader market selloff, unless the company shifts iPhone production to the U.S.

President Trump lashed out at Apple CEO Tim Cook as he wielded more tariff threats against the European Union pressuring U.S. stocks which are on pace for weekly losses. The 10-year Treasury yield hovered near 4.

President Donald Trump said iPhones made outside the US would incur a tariff of at least 25% and threatened to increase levies on European imports.