Apple stock dropped sharply after President Donald Trump said on Thursday that the U.S. will put an additional 10% tariff on a remaining list of goods imported from China starting on September 1.
imported from China starting on September 1.
Apple stock was down more than 2% on Tuesday, erasing previous earlier gains. The Dow dropped more than 200 points on the Trump tweet. The S&P 500 was down less than 1% but had earlier gains wiped out.if a tariff were to be placed on Chinese exports, although it is unclear which Apple products may be affected by the proposed tariff. Apple didn't immediately respond to a request for comment.
"The way I view this is, the vast majority of our products are kind of made everywhere," Apple CEO Tim Cook said earlier this week on a call with analysts. "That's the nature of a global supply chain. Largely, I think that will carry the day in the future as well." Apple generally opposes the U.S. tariffs, including those placed on a separate list of goods that went into effect last fall and were raised to 25% in May. That list ended up not including Apple products. Cook said last year that he personally told President Donald Trump that tariffs are the wrong approach to China., Apple said in a letter to U.S.
"The proposed tariff list covers all of Apple's major products, including iPhone, iPad, Mac, AirPods, and AppleTV, as well as the parts and batteries used to repair products in the United States," Apple said in the letter. "The proposed tariffs also cover accessories that Apple makes for these devices, such as monitors and keyboards.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
President Donald Trump Notes Low Ratings For Round 1 Of Dem Debates: “They’re Desperate For Trump!”Next to the presidential polls, the tallies President Donald Trump follows most closely are TV ratings. So it’s no surprise that he weighed in via Twitter on last night’s first round of…
Read more »
#LostTrumpHistory edits President Donald Trump into history, photos
Read more »
Donald Trump is a racist, majority say in Quinnipiac University poll
Read more »
Baltimore pushes back against Trump while acknowledging problemsAfter U.S. President Donald Trump described Maryland's largest city as 'a disgusting, rat and rodent infested mess' and a 'very dangerous & filthy place' last weekend, Baltimore resident Blondina Bean had mixed feelings about his tweets.
Read more »
Defending intelligence pick, Trump says U.S. spy agencies 'run amok'Defending intelligence pick, Trump says U.S. spy agencies 'have run amok.’ More here:
Read more »
Trump condemns slavery in Jamestown speech amid controversy over prior incendiary remarksU.S. President Donald Trump, under fire in Washington for verbal attacks on raci...
Read more »