New York - U.S. stock markets closed lower on Friday after President Trump threatened to impose significant tariffs on Apple and the European Union. The President suggested a 25% tariff on Apple products, raising concerns about the tech giant's supply chain and profitability. He also proposed a 50% tariff on goods imported from the European Union, escalating trade tensions and fueling fears of a potential trade war.
Analysts said the market reaction reflected investor anxiety over the potential impact of these tariffs on global trade and economic growth. Apple's stock price dipped following the announcement, and broader market indices, including the S&P 500 and the Dow Jones Industrial Average, also declined.
The market is reacting to the uncertainty, said one market strategist. Tariffs create friction in the global economy and can ultimately hurt consumers.
The proposed tariffs are the latest in a series of trade disputes initiated by the Trump administration. Negotiations with the EU are ongoing, but the threat of tariffs adds pressure on both sides to reach a resolution. The situation remains fluid, and investors are closely monitoring developments for further indications of the potential economic consequences.
Stocks Dip as Trump Threatens Tariffs on Apple, EU
U.S. stock markets experienced a downturn Friday following President Trump's renewed threats of tariffs. The President suggested imposing a 25% tariff on Apple products and a 50% tariff on goods from the European Union. These proposed tariffs raised concerns among investors about potential impacts on global trade and corporate earnings. The market reacted negatively to the uncertainty, leading to a widespread decline in stock prices.
Source: Read the original article at CBS