On Friday the president threatened a 50% tariff on the European Union and a 25% levy on smart phones if companies failed to move production to the U.S.

U.S. stocks fell on Friday, notching a weekly loss, after President Donald Trump recommended 50% tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty.

Some have rushed to take advantage of the rollback by frontloading and stockpiling shipments. Container bookings for China to U.S. routes soared nearly 300% in the days after the truce was announced, particularly as businesses anticipate end-of-year holiday shopping demand.