American President Donald Trump announced on Friday that a 25% tariff he plans to impose on Apple will extend to Samsung and all other smartphone manufacturers who do not manufacture smartphones in the America for sale in the country.
Speaking to reporters in the Oval Office, Trump also expressed his stance on maintaining a 50% tariff on the European Union if no trade agreement is reached.
MacDailyNews Take: Here is a list of the top 5 consumer markets by country, based on household final consumption expenditure (HFCE) in U.S. dollar value (consumer spending):
- United States of America: ~$18.8 trillion
-
China: ~$7.0 trillion
- Japan: ~$2.5 trillion
- Germany: ~$2.3 trillion
- India: ~$2.2 trillion
Add up the 2nd – 5th consumer markets on earth and they still total $4.4 trillion less than the United States of America’s consumer market.
The best thing you can do is deal from strength, and leverage is the biggest strength you can have. Leverage is having something the other guy wants. Or better yet, needs. Or best of all, simply can’t do without. – Donald J. Trump, Trump: The Art of the Deal
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post President Trump says his 25% U.S. import tariff on Apple will also apply to Samsung, all other smartphone makers appeared first on MacDailyNews.
