Federal court blocks Trump tariffs; worst-case iPhone cost would exceed $4k

The ongoing saga of potential tariffs on iPhones continues. After Trump threatened Apple with an additional 25% tariff on iPhones, the worst-case scenario could see the cost of the most expensive model in the line-up exceed $4,000. However, a federal court has ruled that the president doesn’t actually have the legal authority to impose tariffs at all, let alone the most extreme ones he has threatened, and has vacated the executive orders issued so far … The backstory In the space of two months, the Trump administration announced tariffs on products manufactured in China that started at 10% and ramped up to 145%. An exemption for consumer electronics products was later announced, as we predicted, but the administration subsequently said that this would be purely temporary. With most Apple products made in China, that would potentially result in massive increases to US pricing. Earlier this month, Trump ramped things up again with a new threat of an additional 25% tariff specificall ... Read full article.