iPhone Shock: Trump Tariffs Could Push Price Tag To $2,300 In US
A high-end iPhone could soon burn a much bigger hole in your pocket, with projections suggesting a jaw-dropping price of nearly $2,300 — all thanks to sweeping tariffs rolled out by US President Donald Trump. As reported by Reuters, the dramatic spike in costs isn’t limited to smartphones. From sneakers to cannabis, the latest round of duties is shaking up global trade and sending shockwaves across economies.
iPhone Sticker Shock: How We Got Here
In a move that’s rattled markets and world leaders alike, Trump has slapped sweeping new tariffs on imports — a 10 per cent blanket levy, with even higher charges aimed at select countries. If companies like Apple pass these costs directly to consumers, US shoppers could be staring at historically high prices. According to Rosenblatt Securities, an iPhone with top-tier specs may reach the $2,300 mark — nearly double the current rate for premium models.
The White House is sending mixed messages. While some top officials insisted these tariffs were a long-term play, Trump later told reporters, "The tariffs give us great power to negotiate. Always have. I used it very well in the first administration, as you saw, but now we're taking it to a whole new level."
Global Markets Reel, Recession Fears Rise
Markets didn’t take kindly to the news. US stocks plunged, with the Nasdaq dropping nearly 6 per cent, marking its worst day since March 2020. The Dow and S&P 500 followed suit, falling 4 per cent and 5 per cent respectively. Tech giants like Apple and Nike took direct hits — with Apple stock diving 9 per cent in a single day.
Across the Pacific, Japan’s Nikkei was poised for its worst weekly performance in half a decade, dragged down by plummeting banking stocks. Japanese Prime Minister Shigeru Ishiba called it a "national crisis", as panic rippled through financial circles. Meanwhile, JP Morgan revised its global recession odds up to 60 per cent, citing the escalating trade standoff.
Allies Push Back, Trade War Brews
The backlash has been swift and widespread. China has vowed retaliation against the 54 per cent tariffs on its exports, while the European Union braces for a 20 per cent hit. French President Emmanuel Macron urged European nations to freeze investments in the US, and Canada rolled out its own countermeasures.
Canadian Prime Minister Mark Carney didn’t mince words: "The global economy is fundamentally different today than it was yesterday." IMF Managing Director Kristalina Georgieva added, "The tariffs clearly represent a significant risk to the global outlook at a time of sluggish growth."
Still, some nations — including South Korea, Mexico, India, and Japan — are holding off on retaliation, hoping to secure concessions before tensions escalate further.
What’s Next for Consumers?
The uncertainty is already rippling through supply chains and could soon hit consumer wallets hard. Automaker Stellantis announced temporary layoffs in the US and plant closures in Canada and Mexico. GM, on the other hand, pledged to ramp up American production.
While the administration insists this is a calculated step toward stronger trade deals, businesses and consumers alike may be the ones footing the bill — especially if that shiny new iPhone ends up costing more than a rent check.
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