Apple, Donald Trump and 25 tariff
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President Donald Trump said that the tariffs he threatened against Apple Inc. earlier Friday would also be aimed at a wider range of device makers, including Samsung Electronics Co., to spur them into moving manufacturing of their products to the US.
The president floated a 25% tariff on iPhones imported into the U.S. on Friday, adding that Apple (AAPL) would foot the bill.
Donald Trump threatened Apple with a 25% tariff on iPhones made outside the U.S., reportedly triggered by Tim Cook's absence from Trump's Middle East trip. Trump publicly acknowledged Nvidia's CEO Jensen Huang's presence while pointedly noting Cook's absence.
Apple rises after tumbling Friday when President Donald Trump threatened a 25% tariff on iPhones sold in the U.S. that are made overseas, while Tesla trades higher even as the electric-vehicle maker’s sales in Europe decline for a fourth straight month.
Trump said he would postpone a 50% tariff on the European Union to “rapidly get together” with the bloc’s leadership.
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Lawmakers approved a plan to help companies and consumers as officials bargain in Washington for relief from debilitating auto levies.
Apple was recouping some of its losses after President Donald Trump threatened to impose a levy on iPhones sold in the U.S.