A 50 percent tax on European imports would hit the continent hard, hurt the U.S. economy and slow growth globally.

Demanding new tariffs on Europe and Apple, Trump's wild tariff approach makes it tough to do business—and will put a drain on the economy.

President Trump posted on social media that he would be considering a 50% tariff on the European Union amid stalled trade talks and also threatened Apple with a 25% tariff if iPhones are not made in the United States.