US President Donald Trump shared his tweets with Twitter. However, after Trump’s tweets, many US-based companies, including Apple, lost inventory.
US President Donald Trump shared a new tweet on Friday (August 23rd) about the relationship between the US and China. In his tweet, Trump ordered all US companies to alternative look for an alternative to China ”.
Trump’s tweet series was shared after China said it would impose a tax on US property worth $ 75 billion. Apple wasn’t the only one affected by Trump’s tweets. Many major US brands, including Qualcomm and Nvidia, have also suffered from this tweet.
Apple’s shares fell 4.6 percent; VanEck Vectors Semiconductor ETF declined by 4.1 percent. Among chip companies, Qualcomm decreased by 4.7%, Nvidia by 5.2%, Advanced Micro Devices by 7.4%, Micron by 4% and Broadcom by 5.3%. Technology-based Nasdaq declined by 2.6%, Dow Jones Industrial Average by 2.3% and S&P 500 by 2.5%.
Trump’s tweets on Twitter accuse China of stealing US intellectual property “a hundred billion“ a year. Stating that they do not need China, Trump ordered US companies to look for alternatives to China and produce in the US. Trump, who continues its orders, told all US carriers, including Fed Ex, Amazon and UPS, to refuse “fentanyl” deliveries from China. Finally, Trump said that as a result of the growth of their economies in 2.5 years, they have become more global than China. Ağ We will maintain this situation ”.
Earlier this week, Donald Trump said Apple CEO, Tim Cook was looking for him, saying the relationship was positive in case of any problems.
According to a meeting with Trump, Tim Cook informed Trump about Apple’s situation. Cook said the taxes would harm Apple’s contention with Samsung. Samsung also based in South Korea, said the taxes will not comply.