Trump dings Apple with iPhone tariff talk

Philip Elmer-DeWitt

From TheFly: Apple down 2% in after-hours after Trump talks 10%

iPhone tariff Shares of Apple are down 2%, or $2.81, to $171.82 in after-hours trading after President Trump told the Wall Street Journal in an interview that iPhones could be hit with 10% tariffs. Trump said he expects to move ahead with boosting tariff levels on Chinese goods to 25%.

UPDATE: Here’s what Trump told the Journal ($)

[The President] said the tariffs could also be placed on iPhones and laptops imported from China. The administration has been worried about a consumer reaction should such items be subject to levies.

“Maybe.  Maybe.  Depends on what the rate is,” the president said, referring to mobile phones and laptops. “I mean, I can make it 10%, and people could stand that very easily.”

My take: He who sups with the devil should use a long spoon.