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Apple Drops After Trump Threatens Tariffs on iPhones From China

President Donald Trump told the Wall Street Journal that U.S. tariffs could be placed on iPhones imported from China.

Apple Drops After Trump Threatens Tariffs on iPhones From China
A customer holds a newly purchased iPhone 7 smartphone at an Apple Inc. in San Francisco, California. (Photographer: Michael Short/Bloomberg)

(Bloomberg) -- Apple Inc. fell in extended trading after President Donald Trump told the Wall Street Journal that U.S. tariffs could be placed on iPhones imported from China.

Trump also told the newspaper that he expects to move ahead with increasing duties on goods from China to 25 percent.

Apple fell 1.5 percent to $171.88 at 4:26 p.m. in New York following the Journal’s report on Trump’s remarks.

Apple Drops After Trump Threatens Tariffs on iPhones From China

To contact the reporter on this story: Edward Dufner in Dallas at edufner@bloomberg.net

To contact the editors responsible for this story: Rakshita Saluja at rsaluja4@bloomberg.net, Brandon Kochkodin

©2018 Bloomberg L.P.