U.S. Tariff Threat Hits China-listed Apple Suppliers
Major China-listed Apple suppliers like Luxshare and Goertek faced significant market declines after U.S. President Donald Trump threatened to impose hefty tariffs on imported iPhones. The potential 25% levy could escalate the ongoing trade war, impacting both domestic and international markets.
- Country:
- China
SHANGHAI, May 26 - Shares of China's significant Apple suppliers, including Luxshare, Goertek, and Lens Tech, plummeted sharply on Monday following a tariff threat by U.S. President Donald Trump. Trump's announcement to potentially levy a 25% tariff on imported iPhones has sent ripples through the international markets.
The threat, issued last Friday, is seen as a major escalation in the ongoing trade conflict between the United States and China. The proposed tariffs specifically target iPhones imported by U.S. consumers, sparking concerns over increased costs and diminishing profits for key Chinese manufacturers.
According to market analysts, the looming tariffs could further strain U.S.-China trade relations and have a significant impact on the global supply chain, particularly for technology products.
(With inputs from agencies.)
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