On Friday afternoon, President Trump posted a series of tweets, concerning the ongoing U.S. And China trade war. He ordered the United States companies to “immediately start looking for an alternative to China”. After this tweet, Apple stocks fell down by over 4%. Other companies like Nvidia and Qualcomm also suffered stock decline.
The President’s comments on Twitter came after China’s announcement that they would levy tariffs on $75 billion in U.S. products.
Trump then went on saying:
“Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.
I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States.”
Days before those tweets, the U.S. President commented on his dinner with Tim Cook, saying that the Apple CEO “made a very compelling argument” that the trade war will benefit Samsung and hurt Apple. However, it is unclear what will happen in the future.
We remind that the iPhone tariffs are delayed until December, but other Apple devices like the desktop Macs, the Apple Watch and the AirPods will not be excluded from the September 1st tariffs.