American President Donald Trump threatened a 25% tariff on Apple if Apple doesn‘t make iPhones, sold in the U.S., inside the U.S.
In a post to his Truth Social platform, Trump noted that he had told Apple CEO Tim Cook that IPhones sold in the U.S. need to be made in the U.S, and not in India or elsewhere and if this didn‘t happen there would be a 25% tariff, or more.
This was significant enough for Apple to decline over 4% in pre-market trading along with the Nasdaq and S&P 500 not expected to do well either. Apple, which is valued at nearly $3.4 trillion, is the most valuable public company in the world.
Trump’s rhetoric is part of a broader campaign targeting U.S. companies that he feels are undermining his trade policy agenda.
1 comment