The E.U. has pushed back against President Trump’s latest threat to impose a 50% import tariff on all E.U. goods, warning trade must be built on “respect."

The Friday announcement from the president came after a week of ups and downs, including Moody's downgrading the nation's credit rating.

The stock market took a drop after President Donald Trump threatened to slap the European Union with a 50% tax on imports and tech giant Apple with a 25% tariff on smartphones. In another political battle,