Trump Tariffs Threaten to Increase iPhone Prices Amid Economic Concerns
The looming threat of Trump-imposed tariffs on technology imports is causing ripples of concern across the U.S. economy, with Apple's iPhone potentially facing a significant price hike. Analysts warn that the cost of iPhones could surge by as much as $3,500 if the tariffs are fully implemented, a move that could have far-reaching implications for both consumers and the tech industry at large.
Wall Street's tech sector is bracing for impact as the proposed tariffs could disrupt the supply chain and increase production costs. Apple, in particular, has been vocal about the potential negative effects of these tariffs, arguing that they could lead to higher prices for American consumers and a competitive disadvantage in the global market.
The debate over tariffs comes at a time when the U.S. economy is already facing challenges, with some experts warning of an impending 'economic Armageddon' if trade tensions escalate further. Investors are closely monitoring the situation, with stock market movers reflecting the uncertainty and volatility brought about by these policy changes.
Detailed Apple stock drops after Trump announces new tariffs
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How is Apple impacted by tariffs?
Most iPhones are still made in China, which was hit with a 54% tariff. If those levies persist, Apple (AAPL.O) , opens new tab has a tough choice: absorb the extra expense or pass it on to customers. Shares of the company closed down 9.3% on Thursday, hitting their worst day since March 2020.
Will Apple products get more expensive?
To offset the price of the tariffs, Apple may have to raise prices across its product lines by 17% to 18% in the U.S., Woodring estimates. But there's still a lot of uncertainty about what Apple will do and how China might retaliate against the United States, Woodring said.
When was the stock market crash?
October 1929. On Black Monday, October 28, 1929, the Dow Jones Industrial Average declined nearly 13 percent. Federal Reserve leaders differed on how to respond to the event and support the financial system.
How much has Apple lost?
Apple has lost $450 billion in market capitalization since President Trump announced his reciprocal tariffs on Wednesday. Shares are now trading below $200 per share.
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