Trump live: Apple stocks tumble in response to ‘Liberation Day’ as senior Republicans speak out on tariffs
Donald Trump’s “Liberation Day” tariffs sent shockwaves through markets around the globe, seeing Apple stock slide more than six percent in late-night trading Wednesday.
The president announced that blanket 10 percent tariffs will be imposed on all nations in a speech at a “Make America Wealthy Again” event in the White House Rose Garden shortly after regular trading hours closed in the U.S.
About 60 countries deemed the “worst offenders” – including China where a majority of Apple’s devices are manufactured – face higher reciprocal levies nearing, in some cases, 50 percent leaving world leaders reeling. The baseline tariffs go into effect on Saturday and reciprocal tariffs on Wednesday.
Meanwhile, four Republican senators joined every Democratic senator in a resolution to oppose Trump’s tariffs against Canada. The Senate passed the resolution 51-48 on Wednesday after Trump’s announcement.
Neighboring Canada and Mexico are not subject to reciprocal tariffs beyond those already imposed related to fentanyl trafficking, with exemptions under the USMCA trade agreement.
