Shares in Apple and its Asian suppliers tumbled today following the September 8 tweet of Donald Trump where he said that the tech giant should make products in the US if it wanted to avoid tariffs on Chinese imports.
Apple prices may increase because of the massive Tariffs we may be imposing on China – but there is an easy solution where there would be ZERO tax, and indeed a tax incentive. Make your products in the United States instead of China. Start building new plants now. Exciting! #MAGA
— Donald J. Trump (@realDonaldTrump) September 8, 2018
Trump’s tweet came just hours after Apple told US trade officials that proposed tariffs by Washington would affect prices for a “wide range” of Apple items, including the Apple Watch. It did not mention the iPhone.
Apple employs at least 80,000 people in the US and has more than 9,000 US suppliers, the Wall Street Journal reported.