Apple and other US companies have been ordered to look for alternatives to China
Just in case you thought that the issues between Huawei and the US were tough, it seems that now American companies are about to have it even worse. President Trump has now ordered all US companies to start looking for alternatives to China, and these orders have made Apple’s stock price drop.
Maybe twitter is not the best place to make official announcements, but President Trumps likes to tweet about many sensitive topics lately. This Friday, President Trump made some tweets focused on the economic relationships between the US and China. He even ordered all US companies to start looking for alternatives outside of China. This means that many companies that have production plants in that country, have to start looking to move their operation elsewhere. Apple has already started doing this, but these last tweets have also affected Apple, Qualcomm and Nvidia, since their stocks have started to drop.
….better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..
— Donald J. Trump (@realDonaldTrump) August 23, 2019
These tweets were posted after China said they would levy tariffs on US goods, and immediately after that, Apple shares went down 4.6%. This trade war will finally affect consumers, and it doesn’t seem to be ending anytime soon.