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While speaking to the media later that day, Trump clarified that the tariff would apply to any company selling foreign-made phones in the U.S., not just Apple. The president said
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The Chosun Ilbo on MSNTrump’s tariff push jolts Samsung’s smartphone businessSamsung Electronics is facing a strategic dilemma after U.S. President Donald Trump announced plans to impose tariffs of at least 25 percent on smartphones made outside the United States—a move that could disrupt global supply chains and upend the economics of smartphone production.
President Donald Trump said that the tariffs he threatened against Apple Inc earlier Friday would also be aimed at a wider range of device makers, including Samsung Electronics Co, to spur them into moving manufacturing of their products to the US.
U.S. stocks rose sharply Tuesday, with the S&P 500 climbing over 2%, the Nasdaq gaining 2.5%, and the Dow Jones Industrial Average rising 740 points, or 1.8%, in a rebound from last week’s selloff.