"If that is not the case, a tariff of at least 25% must be paid by Apple to the US."Adding uncertainty to his ultimatum, Trump later said the tariff wouldn't apply to just the iPhone but also to any smartphone made outside the US.

The markets closed lower Friday after President Trump threatened to impose a 25% tariff on Apple and 50% tariff on the European Union.

Trump told reporters later on Friday that the 25% tariff would also apply to Samsung 005930.KS and other smartphone makers.

Stock markets declined after the president’s early-morning threats of 25 percent import taxes on iPhones and 50 percent on goods from Europe.

President Donald Trump said that the tariffs he threatened against Apple Inc. earlier Friday would also be aimed at a wider range of device makers, including Samsung Electronics Co., to spur them into moving manufacturing of their products to the US.

Trump has repeatedly called on Apple to move manufacturing to US from China, but the company shifted production for more than half its phones to India