The Trump administration’s threat of massive new tariffs has sent Apple Inc.’s share price plummeting, but it also brought a short-term benefit: customers rushing to retail stores to buy iPhones.
Employees from different Apple locations across the country said stores filled with customers over the weekend — with the shoppers expressing concerns that prices will climb dramatically after the levies are imposed. Most iPhones, Apple’s best-selling and most important product, are manufactured in China, which is in line for tariffs of 54%.
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