Trump's Trade War Shakeup: iPhone Tariff Threat Looms
U.S. President Trump proposed a 25% tariff on non-U.S. made iPhones, potentially affecting Apple and Samsung, amidst stalled negotiations with the EU. Trump's rhetoric has rattled markets and sparked fears of economic downturn. Apple considers U.S. production, with major shifts expected by 2026.
In another dramatic turn in the U.S. trade war, President Donald Trump has threatened a 25% tariff on iPhones not made in America. The proposed tariff, set to affect tech giants like Apple and Samsung, follows stalled trade negotiations with the European Union.
Market dynamics were influenced significantly by Trump's announcement, with U.S. and European stocks seeing a drop, the dollar weakening, and a rise in gold prices. Trump's broader trade strategy aims to bring more production to the United States, though major companies like Apple have yet to commit fully to such changes.
Global reactions include anxiety over the potential economic impacts of Trump's proposals. While some companies are fast-tracking plans to shift production globally, moving manufacturing operations stateside remains a challenging prospect for many, including Apple, as they evaluate possible cost implications.
(With inputs from agencies.)
ALSO READ
DNV Expands Certification for EU In Vitro Diagnostic Devices
U.S.-Russia Dialogue: Unfreezing Europe’s Energy Ties
Concerns Over Global Debt: Merz's Stance on EU Military Financing
UN Urges EU to Preserve Human Rights in Corporate Sustainability Revisions
India and EU: A New Era of Cooperation Unveiled on Europe Day
Google News