Apple Inc. fell in extended trading after President Donald Trump told the Wall Street Journal that U.S. tariffs could be placed on iPhones imported from China. Trump also told the newspaper that he expects to move ahead with increasing duties on goods from China to 25 percent.
President Trump further noted in the interview that it's "highly unlikely" that he would delay an increase in tariffs from 10 percent to 25 percent on Jan. 1, just four days before a summit with Chinese President Xi Jinping.
"Maybe. Maybe. Depends on what the rate is," the president said to The Wall Street Journal about the possible iPhone and laptop tariffs. "I mean, I can make it 10 percent, and people could stand that very easily."
Trump said he expects he will increase tariffs on $200 billion of Chinese goods to 25 percent. He will also add $267 billion worth of tariffs onto goods that are not already subjected to existing tariffs if the two countries don't make a deal. For more read the full CNBC report here.
Apple's stock AAPL fell after hours by $2.88/share or 1.65% on the news. You could monitor the price here as it may fluctuate.