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- Tariffs on all smartphones not built in the U.S., notably those from Apple (NASDAQ:AAPL) and Samsung (OTCPK:SSNLF), are coming by the end of June, President Trump said on Friday.
- Speaking to reporters outside the White House, Trump reiterated his stance that Apple can build iPhones in the U.S. — “It’s computerized,” Trump said, perhaps a reference to iPhone’s manufacturing plants. However, Trump added that if Apple and Samsung were to build plants in the U.S., there would be no tariffs.
- Apple shares fell 2.7% on Friday, extending their losses from earlier in the session, after President Trump said that Apple would be hit with a 25% tariff on iPhones that are sold in the U.S. and not made domestically.
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