Trump Announces 10% Tax On iPhones Just In Time For Christmas

Trump’s trade talks with China are failing, so he announced a new 10% tax (tariff) on iPhones that will hit US consumers by Christmas.

Trump tweeted:

The additional 10% tax that Trump is imposing on US consumers will hit the iPhone. As Americans get ready to Christmas shop, the cost of an iPhone will go up by 10% because Donald Trump still doesn’t understand that China does not pay his tariffs. The Trump tariffs are a tax on US consumers.

The stock market dropped a couple of hundred points after Trump’s tweets. The tariffs have failed, so Trump has responded by doubling down and imposing more tariffs. The problem is that Trump’s tariffs are hitting the economy faster than the Fed rate cut.

Trump’s answer to his bad trade policy is even more bad trade policy. The president is tanking the economy, and if he imposes these tariffs, he could be running for reelection in the middle of a recession.

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