Trump threatens 25% tariff on Apple
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President Trump lashed out at Apple CEO Tim Cook as he wielded more tariff threats against the European Union pressuring U.S. stocks which are on pace for weekly losses. The 10-year Treasury yield hovered near 4.
The president said he would issue a 50% tariff on the EU and a 25% tax on Apple in a pair of Truth Social posts.
The US stock market is seeing a slight downturn as President Doanld Trump proposes a new round of tariffs on the European Union (EU) and tech giant Apple.
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Apple falls after President Donald Trump says the tech giant will have to pay a tariff of at least 25% for iPhones made outside the United States, while Tesla stock declines and is on pace to end a four-week winning streak.
Nvidia ( NVDA -0.99%), Apple ( AAPL -0.98%), and Microsoft ( MSFT -0.21%) are the three most valuable stocks in the world right now, with market caps north of $3 trillion. They are prominent names in tech, and all stand to benefit significantly from artificial intelligence (AI) as they enhance their existing products and services.