Apple, Rare-earth magnet
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Apple is investing $500 million with MP Materials to design and manufacture recycled rare earth magnets in the US, specifically for Apple devices.
The deal, announced on Tuesday, guarantees Apple a steady flow of rare earths and magnets free from China, the world's largest producer.
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Trump pharma and chip tariffs may start this month, sparking price hikes, inflation, and global trade ripples.
President Donald Trump has started to dictate new tariff rates for countries without a U.S. trade deal, with the Apple Watch, Mac Pro, and Mac Studio all poised to get hit by extra import charges on August 1.
President Donald Trump said he was likely to impose tariffs on pharmaceuticals as soon as the end of the month and that levies on semiconductors could come soon as well, suggesting that those import taxes could hit alongside broad “reciprocal” rates set for implementation on Aug.