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Apple iPhones are seen inside India's first Apple retail store during a media preview a day ahead of its launch in Mumbai, India, on April 17, 2023. — Reuters
#Higher #iPhone #prices #loom #Donald #Trumps #trade #war
According to the Rosen Blot Securities estimates, if President Donald Trump’s new revenue increases the growing costs on consumers, a high -end iPhone in the United States can reach about $ 2,300.
These taxes, which are part of the growing trade war, have raised concerns about a significant increase in prices in the US market.
Following Trump’s announcement on Wednesday, global financial markets reacted negatively, reflecting widespread anxiety over the potential elimination of long trade liberalization.
The White House has sent mixed signals on the stability of these rates, Trump has suggested that he “give us great power to talk.”
US revenue will be equivalent to high trade barriers in more than a century: 10 % baseline tariffs on all imports and the most targeting of the country’s largest trading partners.
This can increase the price of US buyers for everything from Bang to Apple’s iPhone. Based on the estimates of the Rosen Bluettirs, a high -end iPhone can cost about $ 2,300 if it costs users.
Racked to adjust businesses. Automacker Stellats said it would temporarily leave US workers and nearby plants in Canada and Mexico, while General Motors said it would increase US production.
Canadian Prime Minister Mark Carney said the United States has abandoned its historic role as a champion of international economic cooperation.
“The global economy is basically different nowadays,” he said.
Elsewhere, China pledged to retaliate for Trump’s 54 % of Trump’s tax on imports from the world’s number 2 economy, as the European Union faced 20 % duty.
French President Emmanuel Macron called on European countries to suspend investment in the United States.
Japan, South Korea, Mexico and other trade partners, including India, said they would stop any retaliation after they wanted privileges.
Washington’s allies and rivals have equally warned of a devastating global trade blow. Prime Minister Shigro Ashiba told Parliament, Japan, one of the largest trade partners in the United States and one of its largest foreign investors, is now facing a “national crisis”.
“Prices” have clearly represented a significant threat to the global approach at the time of slow growth, “said Crustelina Georgiefa, Managing Director of the IMF. “
“It is important that the global economy be further damaged,” said Georgiefa.
Both US Commerce Secretary Howard Lutink and Senior Trade Advisor Peter Navaro told Cable News programs Thursday that the president would not go back and that the tariff increase was not negotiations.
After that, Trump appeared to reporters, saying, “The revenue gives us a great deal of communication. Always keep it. I used it very well in the first administration, as you saw, but now we are taking it to a new level.”
Stocks suffered a global error, the US dollar falling, and their worst week of oil prices were fixed in months as analysts warned that revenue could increase supply chains, damage corporate profits and lead to global economy.
Dow fell about 4 %, which has been the largest one -day loss since June 2020. The S and P500 suffered a loss of about 55 %, and the Tech Heavy Nice Deck decreased by about 6 %, which is the worst day since the March 2020 outbreak.
US companies have been subjected to overseas production. Nike shares lost 14 %, and Apple fell 9 %.
With the opening of their markets on Friday, they struggled to recover the Asian shares, Japan’s Nikki was reduced by 1.85 %, which extended its 2.8 percent slide from Thursday. Chinese markets were closed on holiday.
Trump says “mutual” taxes are a response to the barriers placed on US goods, while administration officials have said that the revenue will generate manufacturing jobs at home and open export markets abroad, though they have warned that the results will take time to see.
Vice President JD Venus, while interviewing News Max, dismissed critics for taking a short -term ideology.
“It is basically what it is, from steel to pharmaceutical preparation and national security to make these things,” Venus said.
Since returning to the White House in January, Trump’s re -tariff threats have shaken consumers and business confidence. Trump could withdraw once again, because mutual rates do not need to be affected by April 9.
“The tariff plan is not well -thought -out,” said James Lucier, the founder of Capital Alpha.
Economists say revenue can restore inflation, increase the risk of US recession, and increase the average American family’s spending to thousands of dollars.
Analysts say prices can also be separated from allies in Asia and can reduce strategic efforts to control China.
Trump has hit Japan 24 % tariff and 25 % tariff slap on South Korea, with both major US military bases home. It also targeted Taiwan with a 32 % tariff as China’s military pressure has increased.
Canada and Mexico, the US largest trading partner, were not targeted by the target tariff on Wednesday, but they have already faced 25 % of the revenue on many goods and now they have to face a separate tax on auto imports.
