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U.S. President Donald Trump's latest threat of tariffs on tech giant Apple loomed over Wall Street on Friday, causing a sell-off as concerns about fiscal debt and increased trade tensions weighed on sentiment.
Trump indicated that Apple, represented by its stock ticker (AAPL), could face a tariff of at least 25% on its products if it continues manufacturing iPhones outside the U.S. This threat comes despite Apple's existing commitment to a $500 billion U.S. expansion and plans to move some production from China to India.
Trump emphasized the need for Apple to manufacture its products domestically, not in India or any other foreign country. Analysts suggest that such a move would significantly increase the cost of iPhones, potentially raising the price of a $1000 iPhone to approximately $3500.
This potential escalation in trade policies marks a dramatic shift in Trump's stance towards Apple, underscoring the ongoing tension between U.S. trade policies and multinational tech companies.
The potential 25% tariff on Apple's products, as threatened by President Trump, could significantly impact the company's financial standing, considering the projected increase in iPhone prices due to domestic manufacturing, some analysts suggest, raising the cost of a $1000 iPhone to approximately $3500. This shift in Trump's stance towards Apple, sparking concerns about the future of business and technology relations, highlights the ongoing tension between U.S. trade policies and multinational tech companies.
