Trump Threatens 25% Tariffs on Apple
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Walmart Fires Back at Trump’s ‘Eat Tariffs’ Command
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According to latest estimates from the Budget Lab at Yale, all U.S. tariffs implemented so far this year translate to an increase in consumer prices of 2.2% in the short-run, or the equivalent of a loss of purchasing power of $3,
Apple’s efforts to diversify its production away from China have been undermined by President Trump’s renewed threat to impose a 25% tariff on iPhones not made in the US.
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Since taking office, Mr. Trump has raced to enact his economic vision, aiming to pair generous tax cuts with sweeping deregulation that he says will expand America’s economy. He has fashioned his steep, worldwide tariffs as a political cudgel that will raise money, encourage more domestic manufacturing and improve U.S. trade relationships.
Bank of Canada Governor Tiff Macklem called President Donald Trump’s tariffs the “biggest headwind” for the country, given the close integration of the two economies, according to the New York Times.
Losing track of all the tariffs? President Trump’s threats against European Union goods and Apple iPhone imports on Friday came after a few weeks of relative trade calm, following his rollback of many China levies in early May.
• West Point speech: President Donald Trump will address graduates at the US Military Academy commencement ceremony this morning, as his administration continues to shake up the Pentagon and the country’s national security establishment .
President Donald Trump is struggling to persuade US consumers of the merits of his trade war, a Harris Poll for Bloomberg News found.A majority of US adults, 56%, said their household finances would be better off if Trump’s tariffs had not been implemented.
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