Announcement wipes about $70bn off Apple shares amid pressure on company to build smartphones in US
Donald Trump has threatened to impose a 25% tariff on iPhones if they are not made in the United States, as he stepped up the pressure on Apple to build its signature product in the country.
The president wiped approximately $70bn (£52bn) off the company’s shares with a post on the Truth Social platform that said iPhones sold inside the US must be made within the country’s borders.
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