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Apple Inc slid as much as 5.6% in late trading after President Donald Trump announced tariffs that target its overseas production hubs, potentially making the iPhone maker more vulnerable to the levies than anticipated.
The tariffs, announced during a White House event, would reach 34% for China, the administration said Wednesday. Vietnam and India — two other manufacturing centres for Apple — would be 46% and 26%, respectively.
The announcement jolted investors, who have grown increasingly concerned that tariffs will hurt Apple’s bottom line….
