Trump tariffs live updates: US stock market drops sharply on opening after Trump unveils worldwide tariffs
What happens to US products made overseas?published at 14:23 British Summer Time
Graham Fraser
Senior technology reporter
What happens to products – like Apple’s iPhone – that are made in China by American companies, asks Mike Heafield, 60, in Preston.
One eye-catching consequence of the tariffs announcement has been the impact on Apple, with its share price falling 7%.
The US tech giant has large manufacturing bases in some of the countries hit hardest by President Trump’s policy – notably China, which faces tariffs of 54%, and Vietnam (46%).
In 2019, when Trump was first in the White House, Apple was given Chinese tariff exemptions. Apple bosses will be hoping to work out a similar deal this time.
The global investment bank Citi…
