The threat of new tariffs imposed by the Trump administration on products from China caused a significant drop in Apple Inc.'s stock price. However, this also resulted in a temporary boost in iPhone sales. Apple retail stores across the country reported an influx of customers over the weekend. Shoppers were motivated by fears of substantial price hikes on iPhones following the implementation of tariffs. Given that most iPhones are manufactured in China, these tariffs, potentially reaching 54%, were a major concern for consumers.
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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